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1.4¢ magnum mining and exploration limited

Ann: Buena Vista Project Update, page-103

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Kanems

1,373 Posts.

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14/02/24

11:04

Post #: 72398323
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Originally posted by Nowhere Man: ↑

"...Re the demand for the DRI , well 10x will do just dandy! ..."

Yep. As Neil reiterated:

...I think you’ve got to look at the big picture, the fundamentals. The fundamentals are there. The growth in DRI is massive. As we found out, it’s even bigger than we thought in the Middle East. To go from 5Mt to 60Mt, that's not a small increase. That’s to go from …you know, Australia produces 5Mt. They are going to build 12 Australia's in the next 10 years! That's one steel company!

So the fundamentals will drag us there over the next few years. It's going be a different industry than the Chinese blast furnace grade ore. It is going to be all about DRI in the next 10 years.

So we have we have the right product. We have a short time to monetisation much shorter that other magnetite mines. So the fundamentals are there.

Expand

Just the 18 months as opposed to 12 months, to construction that dosnt make sense now are they going back to 1.2m production? Instead of 800k? I think neil needs to address this

Last edited by Kanems: 14/02/24

MGU Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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