thanks Heisenberg/Bitcointhe northern anomaly is a gravity...

thanks Heisenberg/Bitcoin

the northern anomaly is a gravity high/magnetic low and so has been designated as a hematite target, the southern anomaly is a gravity high/magnetic high, and so designated a magnetite target

iIf they do make a discovery, I don’t know if they will simply sell the assets or try to develop them. I think the market will assume they would sell them and value the stock accordingly (ie at 10% of the value in the ground). Hemetite for sure would get a higher valuation. I did some googling (as suggested!). Iron ore, when crushed, has a specific gravity of 2.5 (not 2). So these numbers could arguably be bumped up a bit. But there again the price of iron ore is forecast to fall next year to $90, so I guess that will balance it out somewhat

The question then is at what point in the process would the bids come in from the major iron ore players? They may not wait for a formal MRE as it may be pretty clear what the value of the body is from the drill data alone. This was the case with some of the lithium bids last year as there was competition for them.