Ann: Trading Halt, page-4

They need about $500-600 million to get the mine up and running.
And previous company announcements indicate that for the NPV of the project to be positive, they will require iron ore prices around $114 per tonne using previously forecast cash costs of $70 per tonne.
That is assuming that the 114 per tonne does not have any discounts attached to it due to poor iron ore quality.
I don't believe that the company has much chance of raising the dosh for a mine.
But a cap raise to keep things running and management getting paid might be possible.
Keep it real.
IMO