Thoughts?, page-12

29101971, ...you are right that the start up costs of the mine would drop considerably if sponge iron was to be the end product. With all contaminants removed in the making of sponge iron there is no need to have the microbiological ponds for phosphorous reduction for starters . The cost of production would also drop significantly. Makes Kogi iron look extremely attractive on a return on investment and cost of production scenario.With the distraction of the recent elections out of the way, management are back in Nigeria this week I believe to get things moving along again with regard to various discussion/ negotiations.