another going off 19pc, page-3

Purd2,

I would be careful

The depth looks proped


Plus, if you were looking at this for the iron ore, you would be nuts

ACS is a much better play

MWE is a minor party in both its iron ore projects

It gets:

20% of 150mt of magnetite in JV with ACS (20%*150 = 30mt magnetite)
40% of 40mt magnetite with PSP (40%*40 = 16mt magnetite)

So all up, your looking at 46mt of magnetite

That is nothing

Your much better looking at ACS

Its 80% in the Joint Venture = 120mt+ magnetite

AND

It has a HAEMITITE/VANADIUM project next to PLA (PLA have the best vanadium project in the world/Chaired be Kiernan!)

This will fall back to 22 by thursday