40, there is no doubt that IFE / TRF has missed the IO boom and by a huge margin. But if production costs are around the $80 mark there is still plenty of profit to enable full debt repayment in yr1 and accumulate a few mil for stage 2 in the following years.
As for the option of leaving the ship, I think all the lifeboats have gone so we have to hope the water is shallow.
iron ore financing deal must be near, page-28
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