Ann: Confirmation of saleable Iron Ore Concentrat, page-12

re: Ann: Confirmation of saleable Iron Ore Co... Val, what was the value of trades today then? A whole $16k...you could have moved the price with your lunch money
The stock is clearly not actively traded so any comment on market reaction is not relevant.

Also you wont get your 7c, resources market is in general recovery mode now after bottoming out, and this result was not bad so no fundamental or technical reason for it to retrace.

Bizzo, inclined to agree with you on value. There might not be a billion tonnes of useable ore there, but 300MT is more than enough so $300m is fair value. I would not have thought infrastructure could take more than a 10-30 MT a year operation anyway so this is still 10-30 year mine life

Main thing is the testing has confirmed a commercial product can probably be achieved which is what is needed to accompany the JORC to facilitate any progress/sale of the project. And because of the shallow nature of the deposit and soft material, mining costs will be low and may offset processing costs.

Also worth noting when comparing to Pilbara CID deposits these are 100s of meters deep not 20 like this one so they have higher strip ratios, this project will be 1:1 or better almost surface mining

Many may view this as a further set of delays until the next set of met testing on Zone A is released. For me Zone A results make little difference and it was never realistically part of the resource, Zone B is enough and this testing is the next step after the JORC to putting a commercial value on the operation.

position changed from hold to buy