Note on the BFS you refer to, the IRR is only 21% with assumed spot Fe pricing of USD107.
For 57% Fe, on today’s spot, they would only receive $39/t. Cost to produce concentrate is $30/t so not a great deal of margin on that aspect and not commercially viable to proceed in my opinion. Financiers wouldn't touch it would they?
Ann: TNG signs strategic HoA with BBI Group, page-237
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