Ann: Acquisition of Buena Vista iron ore project, page-42

...I should elaborate (from NVI's PFS for Buena Vista, linked above by Gizard) that the LOM for Buena Vista is 13 years - twice that of Fenix Resources' Iron Ridge Project - with total concentrate production of 23.2Mt (dry) at an average grade of 68.1% Fe.

The Iron Ridge resource is only 10.5Mt, by comparison, and its grade - some of the highest in WA, by the way - still 'only' comes in at 64.2% Fe.

I think you can see why I'm excited at the disparity between market caps of the two companies.

NVI's October 2013 estimate of the free cash flow generated by Buena Vista was US$565 million, with an NPV at a discount rate of 7.5% of then US$236 million.

The economic assessment assumed a concentrate price of US$104.29/dmt FOB West Sacramento,average mining cost of US$2.13/t mined, processing cost of US$3.59/ROM t, freight costs to port of US$25.17/dmt of concentrate and G&A costs of US$3.87 million per annum.

Considering today's considerably higher ore prices and lower fuel costs, those numbers perhaps look a tad modest.