for example, recently the company GIR was taken over by the company AGO
GIR had 326mt of medium grade (56%) iron ore in reasonable locations relatively close to transport
GIR was taken over for $836m or $2.56 per tonne
but higher grade ore (62%) with a location very close to infrastructure with low mining costs will attract a higher price
so $4 per tonne is a good assumption
regards
is it time to unleash the hounds, page-19
Currently unlisted. Proposed listing date: WITHDRAWN