I agree that Capex is a big hurdle, but I'm unsure that we...

I agree that Capex is a big hurdle, but I'm unsure that we should be comparing anything to GRR, management is a hot mess. To say that GRR are looking for an equity partner for Southdown would be a bit kind, they have shown little interest. There is a lesson there however for future CAP arrangements(not too distant future too i hope!) in avoiding GRRs mistake of having a close to 50% ownership also being your major offtake customer. Unlike GRR, it looks like we have the management in place to take CAPs world's highest quality iron ore globally. The product is a marketers dream in a green steel future.