don't forget second largest holder bought gwr in at $1.85 who is also second largest shareholder of fmg. this will go above $1 when they announce the next stage and cash start coming in next year.
Fex is forecast to make $70m profit on 1.5m tonne in first year. we have a lot more iron ore than fex albeit higher costs as has to truck longer distance.
Ann: GWR Signs C4 Offtake Agreement - Wiluna West Project Update, page-41
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