Ann: Acquisition of Mid-West Iron Ore and Port Assets, page-7

More Disallowed from Craig Mitchell and John Wealthgone. If they're trying to say Shine is a good project they're dreaming. 20% royalties payable on top of usual government and native title royalties, and it has very high silica content of which they will be penalised more. Probably lucky to break even after they blend the low grade 58% with whatever small amount of high grade is left at Mt Weld. All this does is keep a few more trucks on the road to line Mitchell's pockets and increase their tonnages to bolster the boards bonuses.
It's certainly not a good buy... And the extension hill plant has had every bit of copper and electronics thieved from it so will cost millions to fix... The Ruvidini rail siding doesn't even have access to the highway so there's Millions there to connect those Main roads approvals.