It looks like a few tempers are being raised by my presence on this thread. Say the word and I will happily stay away. If you like though we can continue to discuss the issues.
Goldensnapper if you don't know what grades magnetite concentrates are typically... then you should probably look it up. I am NOT comparing magnetite ORE to hematite ORE, but magnetite CONCENTRATE to hematite ore. You are right in that magnetite is typically definitely inferior to high grade hematite. But not all hematites are created equally. There are widely applied magnetite beneficiation processes in practice and it is the critical issue of infrastructure capacity that determines what is of value. This is not a simple equation of grades. By the way GS I totally agree with you on FDL ;)
In relation to magnetics I am not a geo but they can point towards potential drilling targets - though not often in the most obvious ways. Magnetite is magnetic and hence magnetic surveys can be quite prescriptive for that kind of deposit. Hematite is not magnetic and thus coupled with some idea around how the hematite has formed one can sometimes use magnetic surveys to target your drilling. This often can be counterintuitive i.e. a magnetic low could indicate areas of an orebody worth drilling as the magnetite could have metamorphosised to hematite in that area (in an extremely simplistic analogy which is about all I can conjur up with my limited knowledge around geology)...
It's getting late so I will reread the thread to try to discuss the other issues raised but have a closer look at Atlas - what do they primarily have as a resource? ;)
Magnetite.
They may be the only junior with an MOU with FMG at this stage. There is a reason for that. I am not a big fan of magnetite either but there are companies that will develop magnetite projects and these are the ones in close proximity to port with very large scale projects. Eventually BRM may be able to do the same, all I'm saying is that there is some risk there, as with any company.
Blending with CID fines is a good idea BUT... most companies are looking to blend even their CID. If FMG wants to blend their CID to get a better product what would BRM's combination CID/detrital blend be worth in comparison?
Cheers UIO
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