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re: Ann: Drilling update No. 9 - Agbaja Iron ... On average the...

  1. zero2a$mill
    22,728 Posts.
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    07/06/12
    14:04
    Post #: 10279127
    re: Ann: Drilling update No. 9 - Agbaja Iron ... On average the S.G. is about 2.5, but you don't have to use that in this case, as you (know) that every cubic metre contains 42.69% FE.
    Therefore 14sq Kms X 17.96 mtrs. = 251.44 mill. cubic metres
    251.44 X 42.69% = 107.339 mill. cubic metres X 5 (density, or weight per cubic metre of I.O.) = 537 mill. tonnes
    EIO Price at posting: 16.5¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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