News: MGX Mount Gibson Iron announces 2016/17 financial year forecast, page-9

No. It was a cash settlement, which means that Mgx were given a discount to the rebuild cost in order for them to 'take the cash'.

It may be that the insurance policy could have allowed for rebuild to, say $120mil, but because Mgx wanted the cash, they were able to negotiate the lesser cash amount of $86mil.

The cash gives them options, obviously, but Mgx would have been aware of lower costs of construction, which will have come off substantially post mining boom.

I too am disappointed they didn't look after their shareholders, even a small token divi would have been nice. I will contemplate exiting myself now.

GLTAH.