Simply put, 10Mtpa before AGO gets to 5Mtpa Simply put: same profit margin per tonne as AGO Simply put: Market cap $250M as opposed to AGO's $1Bn Simply put: If ML can chuck $16 a share out on AGO valuing them at $5Bn, AXO is worth at least that.
Resources: check BFS: Check Route to port: Check Space at the dock for its ore: 60% (100% years 1 to 5) Offtake agreements: Check. Check. Massively stupid broker report and slavering cheerleaders? Negatory.
92c, $3.90 years 1 to 5, $8 year 5, $10.90 year 11 once debt amortised.
GBG is a joke. $69/t cost of production on the magnetite (this is on $100bbl oil/energy prices). 20-ish million tonnes of scrappy cruddy colluvium they call DSO, 350km from port, and a "target" of 160Mt. Hell, Arox is going to get a RESERVE of 450Mt and a wharf to ship it through.
DYOR.
I also agree on the FDL/MXR stuff. Dangerous time to buy, very toppy, sly and silly and perfectly timed ramping.
