This stock is dodgy.
Management has always stated that the project has potential for >1 Billion DSO hematite @ >60% Fe.
Their latest announcement states otherwise. The announcement states that they have potential for > 1 Billion iron @ 39% Fe. This is also non JORC compliant as well.
Their project won't be viable because the capex will be billions of dollars just to start up, not @ 39% grade Fe