To be fair I should add that the CAPEX needs to be repaid plus...

To be fair I should add that the CAPEX needs to be repaid plus interest plus running cost (although I really struggle to believe the CAPEX will be as high as $8b!). That still leaves well over A$30b margin. Assuming a 15 year mine life @ 50+mtpa then that’s a staggering A$2+b every year! And that leads to the $64b dollar question. How much more IO will be found and mineable? And for BBI, they’ll most likely get a huge slice of the pie, profits, AND a port and rail all paid for by the project. So any other resource they find will be absolute cream and all because of our PIOP! This proposed deal will have to be remarkably improved to even have the slightest chance of success. My thoughts are that FMS should do a cap raise that minority holders can oversubscribe (if TIO don’t want to take part) and simply go into care and maintenance until a decent deal is put on the table. Minority SHs have waited a long time and have no problem waiting several more years if necessary. As we all know, there is big money to be made and the clock keeps ticking. Tic, tock, tick, tock.........