Ann: Dec 2014 Quarterly Activities Report, page-51

Squidd,

You should have read all of Westy's post, and at least try and educate your mind.

I can tell you for certain that the Chinese company Sino Iron here in WA are spending 10B+ on developing a low grade IO magnetite to ensure China has a long term supply of Iron Ore into the future. They will not turn a profit for many years to come.

That shoots down your argument that SDL won't find investors for their high grade deposit. There are many investors in the world that take a long term view of things (Unlike some myopic hotcopper folk) and are looking to invest, in good times and bad times.

Off topic for a bit, but still relevant. The gold mining shire of Cue here in WA, is one of the few places on earth that can boast of having a Shire President and an American President. Herbert Hoover made his fortune in Gold in the early 1900's and went back to the U.S. and became the 31st President.

He built the Hoover Dam (A monumental construction project, when the nation was broke and on its knees) at the height of the "Great Depression". He mobilised men from all over the U.S. to work on this project

Lesson! Don't say it cannot be done! Build it and they will come!!!