Hi Rod
The Simandou mine in Guinea is projected to start producing in about 5 years and at peak production it would be producing 200mtpa of IO and the average grade will be around 65.5% so very high grade. The current reserves are around 4billion ton so this may be a real game changer for the long term.
Off course it all still has to happen... and demand for high grade IO might be (much) higher in 5 to 10 years.
But worth keeping in mind if investing in IO companies for the long term. It won't have much impact on FEX current mine as it will be close to depleted by that time anyway. But increasing the reserves of particularly lower grade (sub 62%) IO without increasing the production might not lead to much long term value (although is certainly could boost the share price in the current hot market)
What should FEX do with all their cash, page-41
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26.5¢ |
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Mkt cap ! $190.9M | |||
| Open | High | Low | Value | Volume |
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