You guys are missing part of the bigger picture...
GRR - Grange Resources... Our Magnetite JV partner...
Savage River profitability borderline...
http://www.businessspectator.com.au/bs.nsf/Article/Miners-slammed-for-blowouts-misleading-investors-pd20121207-2RR7A?OpenDocument&src=tnb
"UBS analyst Glyn Lawcock produced calculations showing that iron ore miners Atlas Iron, Grange Resources and Mt Gibson all fell into loss-making territory due to the decline in iron ore prices, despite reporting operating costs well below the spot price at the time, The Australian added."
Our Magnetite operation is dependant on GRR.
No GRR = No Mt Lindsay in its present form and cost analysis...
But Good news on VMS mines being most likely excluded from a heritage listing.
Would that apply to Big Wilson also ? Probably not... but if underground operation then conservation issues become easier to deal with.
the australian article?, page-7
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