company maker

Mt Bevan has the potential to be a real company maker for someone willing to develop it, whether it is us or a suitable buyer who will pay what our share is worth. A lot of talk by some LCY holders saying we can't pay too high a price, as Iron ore prices have pulled back. So let's push some numbers around for the sake of the debate. Our 40% of the high cut of grade is 640 Mt, now if you made a clear profit of only $2 per ton on this 640 Mt from mining it, that equates to $1.28 Billion Dollars clear profit, so as you see we are not talking peanuts here, so why are they trying to buy it for peanuts. LCY don' t have a problem, they just have decision to make if they want our 40%. Pay what it is worth. As you see by this ultra conservative profit margin of only $2 per ton, big money is there to be had by us or a suitable buyer.