management, page-50

take $35mtpa base case and multiply that by the most conservative iron ore price average you can imagine over the next 10 years.

consider their cost of production and the factor in their share of the returns.

now tell me, how does a 50% equity share in these returns not fund the measly cost in comparison to build the damn mine and get it producing this base line revenue?

I think this point is directed at you squidd.

maybe time for a new calculator