It is crazy.. They just continually kick goals but the macro "no...

It is crazy.. They just continually kick goals but the macro "no love for iron ore" is killing everyone..

I would have thought with the DSO announcement which basically reduces their capital needs dramatically would have been a turning point in stock sentiment. Basically the itabirite needs a basic benefaction plant (given the soft nature of the material is not excessive cost-wise) to bring the product up to a premium grade. However, now with a DSO find, they can use the profit from that to fund the capital needed for the plant.

With sealed roads etc so close by this should be becoming a very cheap project to get off the ground. How cheap I am keen to see more details on this in the coming months once the port access costs are known (which I guess should be soon)

Reality is they should be able to have a working mine on the back half of CY16 which hopefully is post the bottom of the iron ore price (remember they have a premium product so will get a % more per tonne).

Good progress to the team... This must be one of the best juniors in iron ore on the ASX right now?



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