it will take yrs to drill out the thing to JORC and cost 10's of millions. as far as i can see they will be almost out of cash by end of the next quarter so unless FMS is gona give them the cash they have to tap the market.
what i can see happening is that FMS takes MXR and uses its cash to develop canegrass. however, if FMS isnt as good as the rampers and beleivers hope then the market will be the only place MXR can get capital from.
the point being that they dont have the time to get JORCed and hope the price increases. that is what you seem to be missing. so short term nothing but pain.
1560m tonne magnetite worth 400 million, page-7
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