That's true but reading between the lines from their updates in...

That's true but reading between the lines from their updates in 2021

"Recently, 62% FE iron ore prices have declined significantly from highs of over US$230 per tonne to the curent price of US$106 per tone. This decline has coincided with an increase in the discount rate for Riley's 47% Fe grade ore, from a market rate of 10% used in the Company's 2019 Feasbility Study, to the current market rate of 30%. The company, together with the broader market, also continues to experience a volatile shipping market, largely due to congestion in Chinese Ports, together with COVID-19 and political impacts, all which have culminated in shipping rates tripling from US$18 per tone since the Feasbility Study to around US$52 per tone"

So from rough back of the paper calcs their buffer was ~$70 per tonne, if we used 10% discount and US$18 per tonne shipping. So you'd think their all in costs back then would be under $70 per tonne, given everything has already been established and they had negotiated some of their shipping contracts. It could be worth looking into again? I daresay the shipping costs would have come down from $52 per tonne.
I do understand that other costs have probably since increased but in my eyes just worth re looking at again rather than pay to keep in in care and maintenance...Better than paying to dig more holes elsewhere when you already have assets that can readily produce cashflow. Just explore ways to make it more efficient.