While this ann was a incredible upgrade in resource amount. It really means very little . People tend to forget that IO one is the most common minerals in the ground. I mean heaps of the stuff. It's all about resource grade and location.
FWL resource grade is a very very low 27 % magnetite !!!
You must make pig iron from it to make it viable, but this just adds to the huge expense.
Guys I not knocking Brent but given how much great IO there is in the ground in WA and great little companies around I just dont think these FWL guys will ever get the funding to take off.
Sorry but your money is better invested elsewhere in this sector. Take the rise and run. Good luck.
LCG Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
