Just spitballing but assuming Section 18, IMO what option is taken might depend on how Brazil results come back? A $100m+ cash injection with production royalty might look good for a company hunting CAPEX to develop a hard rock asset?
If Brazil comes back underwhelming, maybe the focus turns to production at Hamersley.
If we strike out in WA & Brazil, we'd be in for some pain.
Just my thoughts.
Cheers!
Ann: Presentation to Asian Steel Mills and Iron Ore Traders, page-8
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