gbg - an acquisition target for ansteel, page-8

It is good to see an article about Karara, but always wonder how well these "experts" know the detail. He or she makes reference to the premium price (approx 20%), but does not use it in the calculations and no mention of the difference exchange rate makes and once again not used in calculations (seems to be comparing cash cost A$ with IO price US$.
I have no idea what - IO price $100 corresponds to $90 benchmark price - means, could be reference to one of the above, but if so incorrect, anybody know?
Not really sure if he or she would know what FIRB was.

Come back Gindaldin - think you did a far better job - did not always like the result LOL