If you look at the latest investor presentation, mine life is...

If you look at the latest investor presentation, mine life is based on 21m tons of iron ore (65% grade). And so is the predicted cash flow.

Look around the last page to see that there is another 40m (65% grade) in the indicated/inferred column. This doesn’t appear to be used in any $$$ projection as more drilling needs to be done.

So as we start exporting ore we will probably start trying to expand the resource. No point expanding it while Seawall was damaged.

this is why paradice and others are loading up. And the $500m cash we have with this low market cap

65% iron ore at $89 a ton (0.7 Aud$) 

60m tons.

Gives us 7.6b in revenue. Half will be costs. So potentially $3.8b in profits. Not factoring in time value of $$$.

our market cap $600m

just my rough calcs - do your own research