Do you really believe in FEX at a time when cost of production has been slashed by the majors? What will FEX costs of production look like?
Will it be US $12 a tonne a la Fortescue? Brockman, Atlas, Gin etc had a chance when it cost BHP and Rio $38 a tonne to get it out. FEX far too late to the party in my opinion - no matter the upgrade. Need to see an investment announcement in my opinion - not upgrade.
