Market doesn't like it as they have got transport costs factored in. PFS will holes in it. Reported costs are FOB at mine gate but use a CFR price. 150km minimum of trucking if they can sell locally. Being conservative, 12c/km for a tonne suggest transport costs over $18/t for 150km. This would increase costs by over 50%. As such CFs and NPV are grossly overstated. Marginal project at best.
Ann: Jambreiro Iron Ore Project - Pre-Feasibility Study Results, page-45
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