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Just saw this post @MyDisco2 Will have a read of the mine gate...

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share_time

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17/02/21

21:51

Post #: 51096277
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Originally posted by MyDisco2 ↑

@share_time Couple of things to clarify from your post are incorrect. Firstly, it's not difficult terrain it is in a low flat area near the Hammersley ranges - not too far from Hammersley gorge actually. Secondly, its not under deep cover - it's near surface and easily scoped for open pit as it starts well above the water table present at other local operations. Thirdly, access does not need to be negotiated with anyone - it abuts local roads and site access is available anytime.

If they wanted to ship themselves they would need permission to road haul to Port Hedland and also port throughput capacity which would both be difficult but not impossible. Have always said i cant see any of the majors interested in this given what resources they have but that doesn't mean other parties wouldn't see it as a value buy and make an offer. I first bought into Winmar for this asset years ago as knowing the area well it made sense at the time. Living in the Pilbara firstly for the 80's and then back since 2000 and working professional roles for one of the majors for over a decade my only problem with this resource has always been the impurities - notably especially high silica that would really need blending or beneficiation.

Ask this question - if it is worth nothing why would the ASX care??

Its because it is worth something and the problem is PF1 wrote it down to nothing for tax reasons firstly which is why its suspended and then because they are nitpicking with a microscope on PF1 after the cobalt debacle and PF1 didnt mention in the prospectus they wanted to spend anything on this asset.

I valued it at $5m years ago given the issues spoken and at a lower price of around $75 US per tonne, I would think $10m is now appropriate given the sector and iron ore price multiple.

Read the mine gate scoping study from a few years back if you need further proof of this. From memory it made profit from $96 US per tonne in that study.

Cheers,

Disco.

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Just saw this post @MyDisco2 Will have a read of the mine gate scoping study, ignore my post above as you clearly are aware of the impurities.

I don't believe trucking is an viable option, hence access to other majors infrastructure would need to be negotiated imo to see any value here

PF1 Price at posting: 30.5¢ Sentiment: None Disclosure: Not Held
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Just saw this post @MyDisco2 Will have a read of the mine gate...

The market's shrugged at China's stimulus measures all year. Why is this one different?

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

The winners & losers on market if negative gearing were gone

ACCC seeks Olam divestments before it can buy Namoi Cotton

KalGold rolls out detailed aeromagnetic survey across Pinjin project

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

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Just saw this post @MyDisco2 Will have a read of the mine gate...

Top Stories

The market's shrugged at China's stimulus measures all year. Why is this one different?

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

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ACCC seeks Olam divestments before it can buy Namoi Cotton

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Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

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