Ann: Significant High-Grade Iron Ore Intersected at Iron Ridge, page-240

A recap from * article in Sept 2018.

Low capex advantage

The premium Fenix expects to make will more than make up for the cost required to truck the ore around 490km to the Geraldton Port.
The company also has other cost advantages with it not having to build port infrastructure because Geraldton Port currently has abundant surplus capacity for ore storage and ship loading.
A high-grade product also only needs minimal processing and no tailings disposal facility.
A 1-million-tonne-per-annum operation would only need a small fleet of heavy earthmoving equipment and a mobile crushing and screening plant, both of which are readily available from contractors.

With the 62% iron ore price moving to US$100/ton and beyond, high grade 65% (which Fenix has) is likely to move to around US$120-US$130/ton. It is now slightly above US$100/ton.