Haven't been following this one that closely, but how much did...

Haven't been following this one that closely, but how much did they spent on this project to get it to the point that Rothschilds have managed to get someone (we assume a Chinese group) to buy 70% of it?? Am I right in thinking that for FY09 they spent A$52.3m, the majority (A$41.6m) off which, was for this magnetite project?? + plus some expenditure from the previous year. Assuming a purchase price of 150m, I suppose its a return on investment of something substantially less than <180% plus a retaining interest of 30%. But that is not really that sexy, and its not really a return that inspires one to invest in mining companies. Not only that, on-going costs to retain that 30% over-time will inevitably chew up that $150m and other capital in no time at all. Magnetite is big cookies.

Better off with DSO (in the short to medium term) I think...