questions, page-17

Hi,

I'm a little surprised that no one has linked things together. Maybe some have and are keeping it to themselves. Mike did a BRR interview recently inwhich he addressed two questions posed to him by myself. These are the two questions Mike addressed in the BRR interview:

Qu.1 - BC Iron has quoted an LOI figure of 12.3% at Outcamp well. My understanding is the benchmark for fines material is a minimum of 62% CaFe for Asian mills. By that measure, BCI's 55% Fe ore at Outcamp will meet Asian mills requirements and as such can be sold as DSO and doesn't necessarily require benefication. Is this statement true? If it isn't, could a brief explanation be given as to why the statement is incorrect please.

Qu.2 - The last statement made by BC Iron was that BC Iron is exporting from Outcamp well at 57.5% Fe. Considering Outcamp has a LOI figure of 12.3%. This would work out to be a Calcined Iron figure of 65.6%. By any measure, this is extremely high, even by the fines benchmark being Yandi fines at 64% CaFe. What is the benefit in BCI having such a high CaFe level when 62% CaFe would suffice? Could BCI slightly lower it's CaFe figure by blending some lower grade ore into the mix and still keep it's CFR62 receipt for Bonnie fines? I'm assuming the benefit in lowering the CaFe figure would be an even better strip ratio for BC Iron, lower opex cost, and a higher total DSO resource. If my last assumptions are incorrect, could a brief explanation be given as to why my assumptions are incorrect please.
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Guys please do yourselves a favour and listen again to the BRR interview with these two questions in mind. I'm sorry but I can't reveal what is on my mind, you'll have to figure it out yourselves. Maybe some think it's obvious and haven't posted what was obvious in the BRR interview. But for the sake of others here, someone should post it and inform those that don't know.