Please listen the what is said at the 2.45 second mark and then onward for the next minute or so. Have we sold ore down to 55%? I can't see why not because of our high LOI figure as I discussed in my last post. What is the true current reserve figure if we have? How much exportable ore do we really have? At the moment the reserve is based on 57% Fe. Everything else under 57% is presently considered waste.
http://www.brr.com.au/event/65704/email-questions-to-brrbrrcomau
Considering this audio is now 18 months old. I would say we would know one way or the other by now.
This is big news if we have sold down to 55% Fe. We have potentially just added by my calculation 22Mt to our reserves. This fact isn't in any broker valuation of BCI.
100k @ $2.25, page-13
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