"Mt Goldsworthy previously mined 55Mt @ 63.5% off an 1,100m...

"Mt Goldsworthy previously mined 55Mt @ 63.5% off an 1,100m anomaly.

Gravity data at Goldsworthy East has delineated two substantial features:
◻️Northern Target: 1,600m strike, 200m wide and depth extent of 450m modelled to occur within 25m of surface.
◻️Southern Target: 1,100m strike, 215m wide and depth extent of 400m, modelled to occur within 30m of surface.

Doing some back of the envelope calculations on these two targets and there is potential for a triple figure DSO deposit with existing infrastructure to port...if all stacks up you would have to think this would be of interest to a few of the major IO producers - although no doubt the Macro team could also take this into production themselves easily enough."
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Here's my crude back of the envelope calcs:

N.T.: 1600 x 200 x 450 = 144,000,000 cubic metres (based on a 'rectangular tank')
S.T.: 1100 x 215 x 400 = 94,600,000 cubic metres (based on a 'rectangular tank')

So total for both targets is 238,600,000 cubic metres of iron ore (IO) so halving that number to get a very conservative idea of what possibly lies below would still give us 119,600,000 cubic metres of IO

That's 119 million m³ of IO - a very crude conservative estimate.

[Iron ore, hematite bulk 1810-2450 kg per cubic metre]

So let's say 2000 kg per cubic metre for ease (2 tonnes per cubic m)

119 million X 2 = 238 Million TONNES of IRON ORE (hematite) for Goldsworthy East (conservative estimate)

Current IO price is 106 USD/t and is in a long term uptrend (chart says so from 2016 to 2024)

to keep it simple and conservative we'll say 100 USD/t OR 150 AUD/t IO avg price.

238M X 150 = 35,700,000,000 that's $35.7 BILLION AUD for Goldsworthy East in situ value of IO

That tells me that at the current MC of $120M there could be a re-rate coming....no believing necessary when you run some numbers