The magnetite is a furphy.CDU will never extract economic value...

The magnetite is a furphy.

CDU will never extract economic value from the magnetite, plain and simple. The grade is far too low and the scale required to develop it does not exist.

Plus in Year 6 (2021) is likely to see iron pre prices reverting back to more moderate levels if you believe Sam Walsh's view supply will be constrained only up to 2017.

Given magnetite has become 'the new black' and a DFS hasn't been released I'm wondering if their is some concern about the economics of the project once the high grade stuff has gone. All of a sudden they're talking about magnetite which has been there from Day 1. That should raise eyebrows and questions from enquiring minds.