Ann: 20 Mtpa BFS and MOU with Flinders Ports, page-36

More like US$200 for Supergrade at todays prices.

So FMG get $US105 for 58% with a delivered cost of say $55 which HIO should come close to matching given the soft ore and pipeline saving rail fees despite the processing costs. That gives FMG a US$50 margin per ton. HIO would get US$200, giving them a US$145 margin, 3x more than FMG. This is the equivelent of mining 60MT of 58% with A$5.7B revenue and an operating margin of A$4.7B! Wow this is mindblowing, certainly on track for divi's far greater than todays share price in just a few years.

This just one small step for HIO but a giant leap for us shareholders!