It's OK for Wayne Richards to release a potential target of 30 ~ 50Mt of DSO for BRM's Duck Creek project, but not so for UMC's Scoping Studies.
Again, why has the ASX allowed BRM to define Duck Creek deposit as DSO when clearly it is not? Which ever way you view it, calcinating 57.3% iron ore is a process of beneficiation and accordingly, should not be stamped DSO. UMC's initial JORC compliant inferred resource for Railway was 111.3Mt at 57.7% Fe. Even though the LOI levels were high, Barry did not define the total tonnage as DSO.
UMC Price at posting:
$1.27 Sentiment: Buy Disclosure: Held
