Good post Goodheart.
As I mentioned before, it doesn't look like GRR is in any way serious about developing SD. If they where I see very little hurdles since they are the most experienced, profitable and cashed up magnetite miner in Australia.
SD is just being used as an excuse to hold on to the cash from what I see. There really is no other reason to hold onto the current amounts of cash so they just made their intentions with SD opaque so they can pretend the cash mountain might be used for that.
I wonder what the end game here is.
Grange's Iron ore pellets at A$427/tonne, page-85
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