Ann: Results of Meeting, page-5

It would take them thirty years to mine the reserves, that is true. But the grades only support a maximum profitable mine life of around ten years if the grades are spread out, which is not logical. Profitable mining of the good grades is likely to only be for 3 to 4 years atm by my calculations, excluding the magnetite and cobalt which were always marginal and are, IMO, definitely out of the equation at their current prices.