jorc released.....finally, page-4

Hello

I think the missing piece(s) of information required for that calculation right now (EPS) is the amount of mass loss from beneficiation. Naturally mining costs, strip ratio's etc can be estimated, prices received for similar material etc etc for revenue, but ultimately how much of the 5.6Mt will be rejected in order to take the grade from 44% to 66%? And thus how much is left to sell - 2Mt?, 3Mt?

IMHO having seen photos this looks like a really beautifully seperated silica/Fe ore makeup such that the silica is in quartz veins/matrix which can be cheaply removed without taking too much of that previous Fe away with it.

Has anyone seen a summary of this reject % from beneficiation?

Anyway, for a shoot-the-breeze, why not say they get 3Mt out of the this 5,6Mt that has been upgraded to 66%. I can't imagine a profit margin below $50-80/t after payments to vendors, calculating ownership % etc.

Thats a lot of mumbo$$ for a direct ship, "sell at the mine gate" type of material divided amongst very very few shares.

The rest of the assets (Fe, Mn, Cu-Au targets etc) can be left to develop on their own and this still puts a good valuation on the shares in my books. I will be holding.

I hope I have it right - this one is a real bright light in my portfolio.

thanks for indulging me.