Price of Iron Ore, page-1699

I looked at the scope for Athena. I am personally not convinced the resource is large enough. To have a 6 to 7 life of mine and a return on investment of 3 years. Makes me feel the project is just not worth it. To make a magnetite project to work you need I feel 100million tonnes plus of magnetite ore which can be processed into above 65% grade ore concentrate.

This is something Fexnix would need to look at before deciding if it is worth taking it over.

With the size of our company and potential finances I doubt we could produce more than say 1-2 million tonnes of concentrate per year.

But still the ATH resource seems to have no more than 6 million tonnes of FE contained ore.

By the way I am also happy to hear we may have 3 mines in operation by next year. But we really do need a replacement mine for iron ridge when it runs out.