magnetite, page-46

Johno247
They are building a 3 million ton a year plant with a plan to increase production to 5.7 million tons a year. What we don't know is if by increasing the time the plant operates the higher figure is obtainable from day one.

Any published financial numbers must be based on the JORC.

The cross trench in the photo shows a different cross section to the one the JORC believes is there. Correct me if I am wrong does the JORC suggest a 40 metre wide straight down seam?

The bulk testing is suggesting a four year period of very rich ore. The wider trench could increase that time period. Some are hoping for a 4% plus in the early years.

So to put it bluntly we actually have a JORC that I personally believe is meaningless and must rely on guestimates.

The company has spent serious money and has consulted so called experts to now arrive at a point in time in which they believe they know what is in the ground, based on their own internal expertise and those numbers they are not allowed to tell us.

Peter Costello was reported in the press as having commented on the fact that there may be an abuse of the securities industry impacting on peoples superannuating. So we are not the only ones observing.

So do a calculation based on the JORC numbers for 3 Mt/Y
Now do the same for a plus 4% and follow this up by increasing the throughput to 5.7 Mt/Y.

Now they are going to run out of the very rich ore possibly sometime between the fourth and hopefully the sixth year and by then a bigger plant will go in to handle the low grade ore. Don't forget a small plant for Wilgar.

So the results will be between a very good return to ducking unbelievable. When you see the ducking unbelievable numbers go to Nev's report on CDU trading any you will understand why the predator is there. They are not doing what they are doing for a hobby.