Do you know how long it took for Rio Tinto to develop Simandou? Nearly 3 decades. Political interference etc. That's in Guinea. Agbaja is in Nigeria. Corrupt country to say the least. The project would never happen. Many things to consider. No infrastructure. Boko Haram. Iron content has too much phosphate needing benefication which is very costly. There is a steel company currently in Nigeria, they import all their iron ore and coking coal. No coking coal in Nigeria. You would probably be dead by the time they were even a quarter of the way developing the project and the capital required including infrastructure would be close to a billion dollars. 10 years ago they said it would cost $500 million to develop. Macro is an explorer. Not a developer or miner. Nobody will ever touch that project. It's worth SFA. The exploration licence is probably due to expire soon so it really is worth SFA if nobody takes it off Macro. Wil get nothing for it. Nobody is interested in it for years and iron ore price does not support any purchase of the project.
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