Ann: Cyclone Secures Funding to Progress Iron Bear Project, page-13

My thoughts on the previous thread. Which is why I am bullish.

"So currently what is the iron bear project is worth today?The Simandou deal in 2010 gave an undeveloped value of $0.5B for a 51% stake in approx 2B tonnes of 65-68% FE ore. This roughly equates to $US0.5 per tonne of ore. This would require a $15B investment and the mining cost of $US35 per tonne plus processing costs plus transport costs. The nameplate capacity would be 110MTPA. At the time of the deal, iron ore was circa $US175 per tonne. Potentially >$US100 per tonne profit.Iron Bear has 3.3B tonnes of 70% magnetite. We will forget the hematite. It will require $US15-20B to get the 100MTPA mine operational. The product will need to be pelletized. Iron ore is currently at the $US100 mark. Futures are even lower. These lower prices are offset by the perfect storm setting for green steel. The perfect storm setting will provide the demand but not the price. Therefore my estimate of value of the undeveloped resource would be $US0.25 per tonne (magnetite only). 3.3B tonnes by $US0.25 equates to $US825M.The effect of the development of both Simandou North and South and the Chinese economy tanking which is being seen in the iron ore futures may result in halving this value to $US413M. This is $610M AUD. Which would give CLE a value of > 5 cents a share. This is why I am still a buyer."

This was based on the existing shares on issue. This new raising multiply by 0.60. I am certain that a deal can be done. There is a perfect storm for green steel at the moment. Zero carbon will not happen. Lowering carbon emissions will be front and centre. Green steel is possible and green concrete is possible as is green biofuel.