I spoke to Ken (who seems conservative) at the Iron Ore Expo last year, and he explained to me that the 44mt we have is very fine and coarse, that is easily crushed as you described. Ours may need some milling, but it will be nowhere near the treatment of other harder magnetite products and our capital costs will not be as extreme as some other magnetite companies. ARH for example need to spend a packet on capital to get their magnetite ore ready for shipping.
I understand now why some Pilbara hermatite companies bag magnetite product, however you need to research further the type of magnetite grade. I feel comfortable now that we will have the best of both worlds and the magnetite world will be the best premium product which requires the lowest capital costs to refine compared to others.
These two new areas of discovery Numancia and Hercules have shown potential for a 50/50 split between H & M.
Blastfurnace, I will hope when the results come out you can help explain to us their significance, as you seem to know this stuff better than most.
TRF Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
