NO, its 400,000 tonnes annually. Even RIO doesn't produce 400...

NO, its 400,000 tonnes annually. Even RIO doesn't produce 400 million tonnes annually.
IF IOR reaches 400,000 tonnes annually at AUD$46/tonne it means that IOR will just be losing more money than it is currently.

What about NO PRODUCTION COSTS announced in the report?
All mining companies should announce production figures for the quarter, production costs/ tonne for the quarter, sales quantities for the quarter and average sales price for the quarter. All IOR does is to announce that it sold 20,000 tonnes for the quarter. NO PRODUCTION, NO PRODUCTION COST, NO SALES PRICE.
This should be unacceptable to shareholders.
The only figure that is given is development cost which is mostly a combination of production costs and development costs.
Using the figures from the previous quarterly reports it would seem that the costs of production are well in excess of the sales price. Obviously that is why there is no mention of costs or sales prices.