Billhttp://www.csdtin.com.au/csd/jorc-resource lower grade tin...

Bill
http://www.csdtin.com.au/csd/jorc-resource lower grade tin total inferred tin 57,700t
low tin production costs of approximately $11,250/t April last year presentation

Stellar
http://www.stellarresources.com.au/images/ASX_Announcements/2013/130016srl.pdf

Increase in contained tin to 71500
The Heemskirk project is also expected to have a competitive cost structure with an estimated cash cost of production of US$12,780/tonne of tin. But this was before the recent upgrade and i would expect the cost of production per tonne to drop to around the same or a bit below CSD’s.

Market cap Stellar 12.29Million CSD 16.00 million.
So let’s say costs cancel each other out divide the market cap by contained tin. CSD 277 stellar 177 shows Stellar has a big lead being undervalued on the tin.

More complicated if you add in the Iron

CSD
In addition, the project also has an iron Resource of 5.2Mt @ 26.39% Iron which is upgradeable to a high grade Fe product.

However for a long time Tarcoola was Stellar lead project and very possible that Heemsirk will be sold at some stage and the money ploughed into the iron prospect.

http://www.stellarresources.com.au/index.php/tarcoola-iron

A conceptual study of open pit mining at Coolybring shows that a cost effective life-of-mine waste to ore ratio of 1.44/1.00, including overburden removal, could be achieved over a 36 year mine life. At an annual mining rate of 13 million tonnes of magnetite banded iron, conventional magnetite separation technology could produce 5 million tonnes of saleable concentrate.

This totally dwarfs the CSD iron.