Dhimurru, I don't think IO is going to recover to the $80/t...

Dhimurru, I don't think IO is going to recover to the $80/t where Wilcherry Hill production becomes economic - at least not in my lifetime and not soon enough to save IFE.
Fe is a millstone around the neck of TRF. TRF's only chance of survival is through its non-Fe assets. Taking IFE on board is one too many bodies in the liferaft. That tentacle of the octopus needs to be severed.

(with apologies to our IFE shareholder cousins for being so blunt).