The irr is a real problem for the project. There are projects out there that had irr returns of 130%, and struggled to get loans for a 60m plant, I accept they are for other minerals, its only recently a loan was approved on onerous conditions for them. 500m is alot of money to find finance for a project that will return 14% at best at the moment. Even if csiro worked, the 20 % irr, would be reduced down below 14% because of the low iron price.
the company needs the iron ore price to be substantially more then it currently is. Thats the biggest problem now
Ann: Change of Chief Financial Officer and Company Secretary Role, page-23
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