Daz: "Your 54 cash costs, comes from a high 150 iron ore...

Daz: "Your 54 cash costs, comes from a high 150 iron ore price."
"No facts, hopefully iron ore price is 150, and grades improve, otherwise the projects stuffed."
Daz, your statement here really indicates that you don't understand what a breakeven cost is. It doesn't matter what the price of ore was at the time of PFS. Whether it's $150 or $200. It only matters if the price of ore stays above $54 at 62% at which point MGT will still be operating at a profit. That breakeven costs cover ALL the costs from mining, digging, processing and shipping. In a separate interview they even confirmed $54 is cost "SHIPPED" to Chinese ports.



Daz: "Grades need to be better than the jorc at 19%. Currently iron ore is 95, and ore grade of 15% according to jorc."
"What people are talking about is the grade of ore you put into your benefication plant. The more raw material ore you into your plant the more the cash costs increase, the more digging and carting required.
"Thats why mgt is drilling to hopefully find a patch of increased ore grades.

Daz, this is all covered in the breakeven costs of mining and processing I mentioned above. They don't need to find higher grade by drilling. This is the PFS of the current 473million tonnes they already have. This is very simple??

Daz: "They have given you 110 iron ore price and 15% jorc figures, and you get 14% irr and 66 cash price."

Daz, that figure that you gave is the "Reference Case". Do you know what that means? It means the baseline figure without using CSIRO technology and without Optimised feed. They included this figure in the Table only to show us the difference.

They clearly says it in the PFS that they will go forward with CSIRO tech or "Head Grade Improvement Case" with 20%IRR and $54 All in breakeven 62% Fe price. Which is an amazing value! Again the price of $110 is based on 62%, we are going to get 68% for which you said "No one has ever disputed mgt, can't achieve 68% grade."



Also Daz, your activity spreading misinformation as a non-holder with 90-95% of your posts all about downramping MGT is not only toxic but evil.
I have a lot of time Daz, I'm retired too same as you.