Paulsens East.Proven and Probable Reserves 15.8 million tonnes,plus 60% FE.Shovel ready.
Sale Price $20mill.which equates to $1.27 a tonne.
You have to be freaking well kidding me !!!!.
Industry standards would apply an in ground valuation north of $20 a tonne for such an asset.
Anyone smell a rat ?.Won't pass the FIRB.
Ann: Proposed Divestment of Paulsens East Iron Ore Project., page-34
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