found this interesting, page-6

do we need two billion tonnes ?????

at 10m tonnes per year, which would be a huge operation, we already have a mine life of 75 years - i'm not sure that we need any more - it's not like any of us will be around to see the project mined out - that's unless any of you have some anti-aging potion that you haven't told me about.

i'd much rather be seeing us gear towards early production with our existing reserves than mess about with further exploration - ultimately this could turn in to a huge foot race to get to production first.

The companies that survive will be the ones that have cash flow, not necessarily the ones that have the largest deposit.