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29/07/08
12:00
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Denny and others,
Those figures are really not much use because the cut of point for DSO fe is around 55%
I think some of you are confusing magnetite cut of grades. Which can go as low as 25%Fe3o4. This needs processing to bring it up to 60% + Fe.
My take on it is as follows.
* Based on 40% share via CFR's interest in Elephant Gold.
* An IGV of 10% of tonnage value at.
* A price of $100 per tonne:
NOT COUNTING ANY OTHER CFR PROJECT:
10Mt = 2.5 cents - So on that one let's say that the current price would be cheap.
17Mt = 4 cents
25Mt = 6 cents
35mt = 8.5 cents
Remember - there may be nothing there. There may be 10,20,40,70, ??? Mt. We wait to see.
Cheers
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