Another comparison. Details below are taken from the latest...

Another comparison. Details below are taken from the latest Atlas Iron Ltd presentation. Current market cap of Atlas is $531M:

 Pilbara focus, port allocations, strong reserve & resource position
 Current production rate >12Mtpa
 Targeting 15Mtpa by late 2015 from Horizon I assets
 510Mt Ore Reserves & 1.2Bt Pilbara Mineral Resource base
 Globally competitive cash operating costs, generating substantial cash flow
 Realisable infrastructure solutions with substantial Port Hedland Inner Harbour port capacity

The site in Liberia doesn't even have any drill results. There is no JORC or infrastructure.

A cost to Rand in excess of $100M is NOT justified - 20% of a large fully operational Australian mining operation.