They have come to the conclusion that 20Mtpa would be the ideal...

They have come to the conclusion that 20Mtpa would be the ideal capacity. They are targeting a product that will have a $60 per tonne premium in the EU market. The product has to be ground but they are very happy with the level of grind. The product has to be dried and the level of grind works very well with their drying method. Expected opex is $50 a tonne (i believe so).
The railway is in three parts with three different operators. The first part is on wooden sleepers and can accommodate sidings which will increase capacity. The second part is concrete sleepers and can easily be upgraded for increased capacity. The last 32 kms is a headache. This is a logistics driven project. "How do we get the product to port and on a ship?" Shipping capacity has to be addressed but not insurmountable. There have been numerous projects in the area which have failed purely on logistics. Until this is solved no value is added as we know the product is there and that it can be enhanced.
The key new takeaway is that the project has no manganese, which sets it apart from the other prospects in the area.

They have played a chess game with the EUR shares in order to protect them and gain the expected increase in the EUR. They will sell these shares for future funding.