First of all it was 210mt not 700mt. When that deal was done in...

First of all it was 210mt not 700mt. When that deal was done in 2005 FDL was a diamond explorer with no thoughts about iron ore whatsoever. It was only after FMG announced 1 billion tonnes of FE in total (including the 210mt) in early 2007 that FDL (as it was then) thoughts turned to iron ore. As K Wills said "at the time we thought $8m and diamond rights was a fantastic deal for us." Neville Chamberlain thought the same thing about his signed bit of paper from Hitler, remember.