Ann: Company Presentation Feb 2017, page-4

This presentation quotes some very interesting numbers like $60 usd cost per tonne. I'd be surprised given the quality of rock they have which is high teens p2o5, Australian labour costs plus the distance to port if the opex came in this cheap. If it was this cheap some one would already be a phosphate producer in the Georgina basin.

By way of comparison, FB minerals have a much higher grade (28% p2o5) project in Guinea Bissau and are only 75km to port, their all in expected cost is $52 usd per tonne.