Ann: Chairman's Address to Shareholders, page-7

I think it was decided to build the plant to be able to produce 16 mt, (instead of 10 mtpa) - which would save big shut down cost etc - ( caused a bit of a furore in the press at the time who were claiming it was a large cost blow out blah blah blah) - must it admit I thought it made sense at the time.

So if the price of iron ore does see a bit of a recovery, and they in fact can ramp up to 16 mt - without as much difficulty as would have other wise been the case - then it will have proved to be prudent.

I think Geraldton Port is supposed to be able to push this tonnage through too, perhaps someone else could confirm that?

The product is supposed to be 68% and they were touting 20% premium on the spot price for that level of percentage - I haven't seen them claim to get anywhere near the 20% - even though the percentage Fe has climbed markedly.