Interesting reading of 31 January 2011 GBG announcement
http://www.asx.com.au/asxpdf/20110131/pdf/41wgpmw6r5jb5d.pdf
Mining costs, processing and transport costs were planned to be $AUD42 per tonne (page 12 of announcement).
No wonder it is losing money.
But magnetite was selling for $220 per tonne at the time.
Iron ore projected exports, page-28
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