They never did a scoping study but nearish-by Mindax did one and their costs were around $85/t to get to Esperance for a 2MTpa operation and neighbour Jupiter Mines was around $62/t for a 10MTpa operation. Legacy never did any DSO exploration so we're only looking at a 10MTpa magnetite operation which is highly unlikely given the situation at Esperance - not enough space available for all those looking at a larger operation to make the large magnetite capex viable. Not much port space available and the upgrade was put on the back burner so smaller DSO operations are the most likely.
Exploring for DSO and a JV operation with neighbouring Jupiter Mines or a regional consolidation by someone are the more logical steps imo.
Ann: Significant Drill Results at Mt Celia-LCY.AX, page-93
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