The best thing I like is the level of capex, $500 mil over 3 years will be easy as peanuts to raise. My biggest concern was raising capital for capex but now I am worry free. off take agreements will cover some costs.
Also comparing with CAP, CAP has ~113 mil tonne probable reserve, mgt is 4 times that.
It is going to be slow and steady but will win the race.
Ann: Maiden Ore Reserve for the Razorback Iron Project, page-89
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