"It doesn't add up to me why they are not getting a new MD...

"It doesn't add up to me why they are not getting a new MD "

Maybe it is a case of seeing who is going to supply the finance, and let them appoint the M.D?

If we can even just dig up 5m tonnes per annum of 60%Fe from D6 of Delta pit and deliver it to a port without having to do any beneficiation, then that is a massive amount of revenue: more than US$500m per annum at current iron ore price.

I am too much of a novice investor in early stage mining stocks to know if you can just skip doing a BFS and not bother with lots of infill drilling to convert our resources into reserves, but in this environment where it is expensive to raise new equity (our sh*t share price makes new equity finance prohibitively expensive?) if any short cuts can be taken to massively reduce the upfront capital cost required to get to positive cash flow generation, then I'm all for it. Sure, I would prefer a proper deal with Rio where we start up as 15 mtpa producer, but if we can get by with a stepped development plan with a 5 Mtpa DSO operation that requires relatively little capital, then I'm all for that. I am sure AGO or one of the other smaller iron ore producers road-truck their ore to a port over the sort of distances we are from Dampier or Cape Lambert - I know the margins may not be so good not using rail, but anything that avoids us being massively diluted out surely must be a good thing?