Southdown is a great project and I am taking the smaller version with lower capex that produces higher iron content pellets than the ones they produce at Savage River. Now would be the time to move on this its the right environment to get finance . I think underground mining at Savage River just sounds expensive.
Not sure to me they have a lot of cash and cash flow to fund a large chunk of this cant say what the iron ore price will be doing in a few years there is risk in large projects but they are producing the right commodity and probably worth the risk.
Ann: Grange Resources Limited Appendix 4E - 31 December 2018, page-29
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