Yes every iron ore deposit is different but it ain't hematite DSO stuff. This project has been around for years and years and it's nothing special. Are they still using an assumption price of iron ore of $112/t? $4B capex? If so good luck with those. Unfortunately I've seen it all before (my ex life was a mining analyst) and no matter how you spin it magnetite in Australia is incredibly difficult and prohibitive due to costs (I do not recall any successful new magnetite mine coming on board in the last 20 or so years).
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