most of our costs are in equipment - mining,trains,containers...

most of our costs are in equipment - mining,trains,containers which we intend to borrow , plenty of other miners such as the zanaga project and  avima project will also be going ahead.

http://zanagairon.com/pdfs/ZIOC_Investor_Presentation_May_2014.pdf

REPUBLIC OF CONGO RAISES STAKE IN CORE'S AVIMA IRON ORE PROJECT

Friday, 25 April 2014 17:38

The Government of Republic of Congo has made an investment in the Avima iron ore project situated in the North-West of the Republic of Congo through the acquisition of 15% of the share capital of Avima Fer SA, the Congolese limited liability company which owns the Avima Iron Ore project.
His Excellency, the Minister of State, Minister of the Economy, Finance, Planning, Budget, Public Spending and Integration, Gilbert Ondongo stated:
“Our government is grateful to be given the opportunity to increase our equity participation in the Avima project which we consider to be very beneficial to Congo and our people”.
His Excellency the Minister of Mines, Pierre Oba, commented:
“We consider the Avima world class iron ore project to be one of the highest quality projects not only in the Republic of Congo but in the whole African continent. The discovery and development works carried out to date on the Avima project have impressed the Congo government.".
Chief Executive Officer of Core Mining Limited, Socrates Vasiliades, commented:
"We are extremely pleased with this groundbreaking development. It clearly demonstrates the confidence and support the Republic of Congo has for the company and the Avima world class iron ore project. Production of 3 mtpa during phase 1, via **on, is intended to start in 2015. We are looking forward to furthering our strong relationship with the Republic of Congo".