Please aware and be clear that CAP's products are Supergrade 70% Fe (not 65% Fe) in both fines and pellet forms. If my memory is correct, they will produce about 1/3 of products quantity (10mil tons per year) in pellets form.
The price above is for 65% pellets. The price for 70% pellets will be much higher. There are currently no reference price info for it because the world has never sold anything as high grade as this Supergrade product from CAP. It is unprecedented. And apparently many big names of the steelmaking world are willing to pay a high premium for it. Mitsui & Co (trading house,Japan), Formosa Plastics (Taiwan), Shagang (2nd biggest steelmaker in China), Bahrain Steels, Kuwait Steel, Emirate Steel, trading house Gunvor Group, Mitsubishi Corporation RtM, have all signed LOI for off-takes. Bryan team is working to convert those LOI to official binding off-take agreements.
That is why world's reputable and well known mining consultant WOOD MACKENZIE ranks CAP's HAWSONS IRON PROJECT "The best undeveloped iron ore project in the world". This line says it all.
Australian Federal Government and NSW government gave the project "MAJOR PROJECT STATUS" award which will help CAP getting accelerated environmental and mining permits and may also come with some form of cheap finance assistance, for obvious reason: huge jobs and economic benefits to regional and national economy.
CAP Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
