hypothetical question, page-47

Hi squidd.

The Big Boys are in those Countries. Spending or have spent $100's of millions of dollars and have had plans in place to spend Billions of dollars.

Rio Tinto the last I heard were spending $20M per month on around 18 drill rigs drilling out the tenement at Simandou.

If they are spending those sort of dollars, would they not be trying to develop the projects.

Rio Tinto have an agreement in place with the Guinea Government to start production by a certain date.
Rio Tinto had fixed a date for start up of production in 2015, that has now been put back because of problems with the Government because of bribery in the past.
Also the IMIC Group were suppose to be funding with the Guinea Government the Rail and Port for Simandou and the other Simamdou tenement part owned by BHP.

While spending $20,000,000 per month on drilling, would Rio Tinto hand over $700,000,000 to the Guinea Government to be allowed to keep their Simandou tenement, if they did not intend to develop it?

Rio Tinto have been working on their Simandou tenement since 1998. What makes you think they are not looking to develop it?

What about your Equatorial Resources tenement and the tenements next door owned by a Major, Are they not looking to develop their project and maybe take over your Equatorial Resources? A lot of EQX share holders are hoping for a take over by the Major.

I have read about expanding the Pilbara tenements projects.
They are still spending cash on African projects.

BHP. Iron Ore, Oil and Gas in Africa.
Rio Tinto. Iron Ore and Aluminia in Africa. Rio Tinto are involved in part of the Kribi Port Development. Looking for Iron Ore in Cameroon. Come on Squidd.

Sqidd. They may have 60+ Billion tonnes between Vale, BHP, RIO and FMG. That is from DSO, Detrital, Channel Iron and Pisolite.

We are talking about SDL (one company) who have only drilled the top of the iceberg so far on their tenements. They are not in production yet.
SDL alone are giving figures of 13 to 15 Billion tonnes so far in their opinion. Yes from drilling of the tip of the iceberg.
DSO is not the end all of the iron ore industry.

SDL have DSO, Detrital, Itabirite,(Iron Ore Concentrate and Pellet Feed in grades of 65%Fe to 68%Fe) Gold (tonnes of it) ,Bauxite, Rear Earths, Diamonds, Uranium and more on their tenements.
The Concentrate and Pellet Feed is way Higher Grade than what BHP, RIO and FMG have. It is still High Grade Iron Ore no matter what you think.

Steelguru.com - Source - Xinhua.
Mr Emmanuel Bonde, Cameroon's Mines and Industry Minister.

According to results of the feasibility studies,the project is expected to generate over USD100 billion. In Mbalam, the Iron Ore deposits are estimated to be spread on a radius of 783 square kilometres with a mass of about 200 Billion tonnes of Iron Ore.

Why would they have made their bid by now?
How do you know they have not made a move yet?

By the way, Vale have an Itabirite mine in Brazil that has been producing since the early to mid 1940's.
Over to you.

Regards
Westcott.