Hi Sam0408,
This company caught my eye so I thought I'd do a bit of reading.
Definite pro's that rail is close by and port is active. Clearly will reduce CAPEX required.
Regarding your DSO comment, the prospectus (pg 25) shows an inferred JORC of 257mt @ 40.1% Fe with high silica. When I see DSO mentioned I think of old SDL 60%+ Fe with low contaminants.
It looks as though per pg 25 that Genmin ore will require some treatment to bring to 60%+ Fe. From memory SDL OPEX was in the low $20's p/t and that was dig up and nothing more. I'll have to go back and look at the break down of the OPEX SDL published. What's your thoughts on that $30p/t estimate OPEX being a bit thin considering required treatment?
Interested in your thoughts. It's been a while since I've looked at IO in depth.
Cheers!
IPO - Genmin Limited - 10 March 2021 #, page-28
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