From what JW said, it appears the Shine deposit has areas of higher grade, (hopefully areas over 60%Fe), so, If they use grade control as JW eluded to at Shine (see video replay) in conjunction with the rail sidings when IO prices are above US$130/t, & the ISD remains strong, they should be able to make a decent return on Shine.
IO prices have come off on Friday, perhaps due to Chinese NY. The only way FEX has a valuation of 52c is if they are maximising all the assets at their disposal (ie rail, road haulage & port) and have all 3 mines running simultaneously.
I believe we need to concentrate on what we have and not purchase any of Craig's future JV, this would lead to increase capital requirements which I'm not sure the company can support at the moment.
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(20min delay)