"Mr Rowley expressed surprise Harbert had bought into Cazaly, named after 1930s Australian Rules legend Roy Cazaly. "That's definitely not something we've orchestrated in any sense," he said."
LOL...talk about shooting yourself in the foot!
And this one...
"In response to queries from WestBusiness, Gina Rinehart's iron ore group disputed Cazaly's claim that little work had been completed at Shovelanna, arguing a big drilling program in the early 1980s had outlined more than 130 million tonnes of high-grade iron ore."
Once again, a big fat lol...the point of the argument is that RIO haven't done anything since then...in over 16 years in fact.
Interesting however this part of her comments..."more than 130 million tonnes of high-grade iron ore"...that's over a 26 mine life at the current planned rate of 5 million tonnes per year.
With this sort of mine life, combined with the obvious upside at Shovelanna, we are now talking much higher pe's.
Cheers!
CAZ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
