Whilst the tonnage rates look reasonable and are well within...

Whilst the tonnage rates look reasonable and are well within BRM's PFS estimates, the cost of building the spur line to Cloudbreak is the biggest challenge. It may only be a few km away in Pilbara terms, but it crosses swamps and ecosystems that would be a logistical and red-tape nightmare to approve. I still reckon Hancock is the best option, but at least with the FMG figures out there, we have a base to work with.