welcome dmm!, page-5

Hi All

Yes, Mayoko is certainly a bargain for CFE and testimony to the CFE business model. As Mayoko is the only iron ore project in the region with direct rail access to the port, Tony knows this will command a premium on the future value.

To give some idea of what Mayoko (which is mainly an Itabrite resource) could be worth, here is a quote from the late Don Lewis (Sundance) in 2008.

"Recently completed aquisitions of Itabrite projects in Bazil translate to a value of US$1-3/tonne of inground Itabrite resource."

If we JORC a maiden resource of 250+ million tonne, can we assume a value on Mayoko at say $500m? Therefore can we assume CFE's share (80%) of this would be $400m?