An analyst who recently did a site visit to Nullagine stated in his company's report (Macquarie) that sub 56% Fe ore was exported in the last quarter.
I find that interesting considering what the spot price would've probably been back then when the sub 56% Fe material was exported from Nullagine.
I've got two main hunches:
1 ~ BCI wanted to send a bulk amount of low grade ore to trail the product through the sintering/milling stages, probably went to HengHou and then ???
Could this be a precursor to something? I mean, if the low grade ore was sent to trail, and that trail was successful, more low grade ore would be sent ... wouldn't it?
2 ~ BCI just wanted to sell low grade ore. There was heaps of the stuff after all. Fair enough, but it would confirm that the low grade ore is sellable at low prices. So what would the mine life actually be if BCI could sell sub 56% Fe ore at low prices.
Speculation by me.
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