to those that hold or looking to buy, page-3

Hi (jovann)

We are talking about magnetite not DSO.
Even DSO will cost a lot of dollars to be in a position to start digging it out.
How much do you think it is going to cost, hiring drill rigs and crews - sending cores to be tested to the laboratories - for hiring trucks - machinery for digging it out - explosives to blast the ore - crushing machinery - screening equipment - benefication plant - wages for mine workers - directors - geologists Etc:?
Look at companies in the Pilbara and Mid West to see how long it is taking them to start getting it out of the ground.Look at the cost involved in getting to the start of digging it out.A lot more than $25 million.
Time line several years.

For Magnetite you could be looking at bottom $500 million to $1 billion to set up a benefication plant to end up with a product to sell.


i dont care about that, my post is in regard of this project being a goer or not based on previous announcements the company issued.
just to reflect on ur costing analysis on a beneficiation plant, i doubt it will cost that much to set up in india, mainly due to the fact of labour being cheap, equipment hire being cheap, etc..
the time it takes for projects to come up and runing can not be compared to the pilbera due to simply man power,
how many people can you employ in india say 100 people on its wage, now how much in the pilbera? like 10.. they get paid out there 80-100K per yr to work.
if it were to go by your way westcott, the pilbera operations wouldn't be worth even digging simply because it will cost billions of dollars.