Lets say that the expansion review, brings in multiple...

Lets say that the expansion review, brings in multiple satellites into production, export through Esperance.

Now when you have 130mt, maybe heaps more, you can do that sort of thing.

FEX is stuck in first gear.

While GWRs transmission is slipping a bit at start up, it has a whole gear box to change gears.
When GWR has put in multiple production scenarios, or taken over for its much larger resource,

i ask again, who has more upside.
Some look at FEX 10mt, and say higher margin.
I look at volume and scale potential that GWR has greater superiority to the bottom line.

If there was a big player like MIN that wanted scale to build a rail, they arent going to do it for a pissy 10mt.

So again, you go from GWR say 50m pa, expand to 150m pa ???? then say the 80m mc to 600m ? For many years of expanded production scenarios.

What does FEX do ? it runs out of ore. Its 110m mc, maybe gets to 200m ? and then what?