110mt: thank you umc, page-41

Miningio

I for one, never anticipated seeing those numbers quoted in your post for UMC's initial report.

The final DSO tonnage for Railway is not over by a country mile. "many holes" finished in high grade. Let's assume Barry's term, "many", covers 20% of the target area and that the target area is 2.25 sq kms.

This is what I would expect to see for each additional 1m width:

2,250,000 x 2.7 x 20% = 1.215Mt (add 6¢ to the sp)

If the average additional width for 20% of the target area ends up being 5m, the 84.5Mt becomes 90.5Mt. Include any high grade to the north-west and south-east and we could be looking at +100Mt at +60% Fe.

Having said that, I'm more than pleased with the tonnage and grades from today's report and should anyone decide that that's not enough for their liking, then be my guest - sell your stock and get the hell out of here and don't bother coming to Vegas for the $5 celebration.