It seems the license granted is only for small scale extraction...

It seems the license granted is only for small scale extraction up to 100,000 tons per annum still its a start and they should net around $A 20 a ton of ore
About 7 M ton resource I am guessing very low CAPEX just need loader and 3 dump trucks and remove overburden probably around $500K at a guess
Problem is I would not be surprised if locals allow mining but prevent ship loading, going on previous attempts by Japan in the area time will tell