Magnetite V's Haematite, page-19

Wow the ignorance of you Lion.  Your credibility goes down the toilet each time you bag the project and then in the same breath admit you have not researched the project or seen / understand the business model.  Quoting stats about cost of production for other Magnetite mines is hardly a case against this particular mine.

You refer to a bank lending $4b to Iron Road.  If you actually had ANY understanding of this project you would know that Iron Road will not be seeking $4b.  The port is a JV with Emerald Grain which is now owned by Japanese company Sumitomo Corporation.

http://www.adelaidenow.com.au/busin...d/news-story/5f8e72aa27bf8a066231be474607d0bf

and everyone knows the partnership / off take IRD have with China Rail on the rail line