yippee, page-8

Mahony,

What's your thoughts to my rationale below?

You really cannot compare EIO with ROY or for that matter any other iron ore explorers/producers because many of these companies have found much lower and in most cases below the acceptable phosphorus levels of 0.08%. ROY has very low content phosphorus albeit around 30%Fe. No big deal about the grade. Just means they have to process more tonnage to extract the Fe.

Can anyone here direct me to a current explorer (except EIO) or producer of high phosphorus content iron ore? Please advise of the phosphorus levels in the high content finds.

Looking at it logically, any high phosphorus iron ore used in blending would most likely be generally just higher than the acceptable levels of 0.08%.

So if we use some iron ore at say .80% (average EIO quality - 10 times higher than the required levels) and blend it in with say iron ore with say 0.02% (very low content phosphorus) we would get an average content of .41% if we blended 50/50. This is still five times higher than the acceptable level of 0.08%.

So if we blend at say 75/25 (75% low content and 25% EIO high content) we would get what? Still very high phosphorus iron ore blend.

Therefore yes you can blend the high phosphorus ore with low phosphorus ore but to attain an acceptable phosphorus content (0.08%) would mean using a lot of low content phosphorus iron ore with marginally high content phosphorus. On a 50/50 blend using very low content of 0.02% the high content phosphorus would need to be no more than 0.14%.

EIO quality is approximately at levels 10 times the acceptable levels. It's all in the announcement for you to see.

EIO iron ore quality in my opinion is very poor but to remove all doubt exploration is taking place. Who knows, they might just find an ore body with low phosphorus levels but past research (from researchers) suggests that Nigeria hosts high content phosphorus iron ore and is uneconomical and unviable to mine.