4 billion tonne iron ore target at 70% fe, page-11

"if 3BT of 25% mag is worth $1m (plus some worthless shares)

whats 4BT of 18% mag worth??"


Firstly you nare comparing a tenement in WA and SA

Secondly the canegress was 1.7-3BT so not 4BT

fe levels of 69/70% are very high

FMS and MXR are run or were by the same directors/ just a bit of paper shuffling so wouldnt compare that deal to this one.

Shares they recieved have now doubled....so hardly worthless.

Anyway im in for the ride.