Moly price up 125% in the last 3 months, now well over break even for Spinifex
MOL have $64M in cash with debt of $86M
MOL have Fe resource that will generate $100M pa for 5 years with $20M CAPEX.
Spinifex only requires another $300M to begin production at 10Mtpa
Chinese want financial stake in iron and molybdenum resources
=> no brainer IMHO