sale of fms to russians for +$500mill

I just saw this reported on ABC online;
http://www.abc.net.au/news/2012-03-30/flinders-mines-ore-sale-magnitogorsk/3923576?section=wa
The sale is actually for the whole of FMS from what I can read.
The resource is described here;
http://www.flindersmines.com/projects/Pilbara.aspx
[Overall, Flinders has 273 Mt of final product after beneficiation. This final product estimate was based on a Mineral Resource of 748 Mt. Flinders recently upgraded Mineral Resource of 917 Mt is being integrated into the DFS,]

I do not know if that is up to date. The map indicates a dozen or more ore positions around about 80km NNW of Tom Price.
The market cap of FMS today is $537mill and it was ~$309mill in Nov before this deal.
I do not recall seeing this discussed on the IOH thread - I must have missed that.