indian ore prices are sky rocketing, page-35

Hi white pointer.

I am aware they don't need a JORC to mine.

That would need to be changed I would have thought.
They intended to mine number 1 first,with having problems and saying the grade would be lower then expected they need to announce that mine 2 will be first to produce iron ore.

If they only have 1 drill rig are they going to stop drilling mine 2 and send the drill rig back to mine 1?

I would imagine the time lines will be different,so they need to update when they expect the first iron ore to be shipped from mine 2.
They really should be saying what grades and type of iron ore they are mining now that the grade is to be lower from mine 1.
They should also make it clear what price they expect to get and if it is on contract terms or spot price.

If they are getting close to acquiring mine 3,they will need to get at least 2 more drill rigs if they intend to take advantage of the shortage of iron ore for export from India to China.

The reason for the share price not jumping I feel is because they have given little detail about where the tenements are,grade of iron ore,price they will get,if contract or spot price,pictures of iron ore from the tenements,pictures of the target areas through aeromagnetic or other geology signature means,trenching results,chip samples,amounts already shipped from the tenements by other owners,pictures of camp buildings,pictures of mine face showing iron ore colour and depth of seam,length and width of iron ore targets.Too many unanswered questions.

As some of you seem on good speaking terms with management,you need to ask them to announce these things.

Regards
Westcott.