That's not fair, I thought I provided quite a lot of important DD.....did you read my post about my valuation of Isabel, it's a viable operation but not that much profit, i.e. production cost of $12US/WMT, 1.5% laterite (saprolite) ore of $20US/lb (minus $6US/WMT buying cost which is absorbed by the buyer) so their entire 10Mt of saporlite ore they plan to produce 2Mt for 5 years, means net profit of $16M USD per year (20% goes to the carry-free JV so $12.8M), hence they are able to pay the $18M USD start-up cost in less than 3 years.
But they need to find more saprolite deposit, given their low grade 1% laterite (limonite) ore sells for less than $15US/WMT (including transportation cost) so less than $12US/WMT......they spent around $9-11M to find the 10Mt for Isabel.
