IMO the reason RXM didn't pursue an iron ore extraction option was it made the project too high in initial Capital intensity and too big.
What you're proposing goes down the same route. I think management is well aware of the benefits of iron ore and who, would be likely to fund it.
BTW like Rex, I have been in and/or around Havilah as an investment for 12 years, more in HAV's case. The ratio of my current holding in RXM to HAV is 3:1 a reflection of risks and speed of payback.
All IMVHO.
Ann: Rex commits to next phase of Hillside Copper-Gold Project, page-60
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