Ann: AGM Presentation, page-21

From their announcement on the 23/02/18 they are looking at an alternative option that reduces capex from 2.9B to 1.4B for a smaller 5mtpa operation.

"Alternative Development Option There is also an optimised project development option which, at this stage, has only been progressed to pre-feasibility by our JV partners since the completion of the DFS. This would involve a smaller 5mtpa operation within the constraints of existing approvals, mineral resources and ore reserves; and is anticipated to deliver reductions in capital spend from ~A$2.9B down to ~A$1.4B. This alternative case extends the life of mine from 14 years to 28 years for the western zone, and more than 50 years for the total resource (see Project Details below). The 10mtpa DFS completed in 2012 remains the base case for the JV, and the decision as to whether the alternative option is further studied to definitive feasibility will be an issue considered together by the existing joint venture partners and any joining equity investor."