great announcement, page-9

I agree split, but I see they bought a tug boat, so I will assume they did that to secure a start on time rather than later. No point to buy it now for a start late next year, so this is more evidence to me that no major delay is expected by IFE.

If you look at the start up capital costs everything stays the same but for the $3mill that was to be used for the train load out. This money can now be used for the tug boat and the barge area etc.

Even if the capital costs blow out even at a guess $3-4 mill, it will be worth it for the $20 a tonne operating savings, which on 2 mill tonnes p.a is $40mill.

Of course like you I will see if I can get clarification of the above issues but if we confirm there is not much change on capital and timing, then this company will be one of the best movers on the ASX over the next 4-6 months.