Hello @rester,It is always good to be realistic and totally...

Hello @rester,

It is always good to be realistic and totally agree. I called the company and asked exactly the same question.

When the original resource was created it was done so at a lower iron ore price than today - so higher iron ore price brings more resource that is potentially accessible by MIN.

Secondly MIN has completed a large amount of infill and extension drilling as part of their expansion plans to 10mtpa.

We do not know what the current or potential resource is as MIN does not release so your points are well made we do not know / old resource numbers show a potential limited life here.

That being said:

1. Typically large bulk mines require a 20 year payoff to pass the investment committees due to the significant capital cost / sunk costs of equipment etc that you can not recover or remove.

2. MIN increased the size to 10mtpa whereas they could have kept running steady state at 5mtpa if they believed the site had a limited life or production schedule.

I am guessing, but my guess is there is a minimum of 20 years. Reality is does not matter what I think, as for the next 1,2, 3 years that anyone remains an investor here (or longer) the 10mtpa will be happening and as shareholders we will be benefiting.

Thanks for the feedback, Jas.