That's correct, for:
62% Fe at US$150, I've convert it with 20% discount to 57% Fe = US$120 then x1.6M then convert it to AUD (see below)
62% Fe at US$140, I've convert it with 20% discount to 57% Fe = US$112 then x1.6M then convert it to AUD
62% Fe at US$130, I've convert it with 20% discount to 57% Fe = US$104 then x1.6M then convert it to AUD
62% Fe at US$120, I've convert it with 20% discount to 57% Fe = US$ 96 then x1.6M then convert it to AUD
VMS: Riley Iron Ore Mine - Profitable or Not?, page-7
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