veritas report, page-5

A 2mt p.a. operation at 65% Fe for total capex of $50m ... Elvis is in the room baby!!

Bit that was good to read is they have already run a 1mt project out of site in the 1950s, exporting to Japan.

As I said in an earlier post, it's a beauty because:
1. it is 40km from the coast;
2. it is close to existing railway infrastructure;
3. it is on private land; and
4. it is in the US which is in dire need of exports and jobs. Nevada has been smashed by the housing meltdown, too.

I have no idea about permitting/mining licences in the US? Anyone have any idea about the pitfalls here?

Bring on the BFS then and 2mt by 2013. If true and at $50m capex, we might just have a minen and not be too diluted. IMO, DYOR.

Also, any return to longer term trends in the AUD/USD would be a nice valuation kicker.