The Wilcherry Hill DSO Ore is Magnetite not Hematite.
They try to hide the fact that its Magnetite because almost no-one has ever made money mining Magnetite no matter how high the grade is, wheras Hematite iron ore mines are usually much more profitable. Magnetite iron ore deposits are a dime a dozen and incredibly easy to find and incredibly difficult to make money from because of the massive capital costs and time taken to construct mines. rail, ports infrastructure etc. All of the profitable Iron Ore mines in the Pilbara owned by BHP-Billiton and Rio Tinto are all Hematite Iron Ore mines.
I agree with your criticisms of companies "jumping on the bandwagon" entirely - especially when they ignore their core exploration assets that could be brought into production and go off chasing rainbows in dodgy juristictions or doing "frothy" JV deals just to get into the latest "trendy" metal.
In TYX's case they have potential for shallow high grade gold and base metal mineralization within reach of existing mills (or the possibility of a small standalone plant) vs the potential for marginally economic low grade Magnetite Iron Ore deposits that are stranded in remote locations and need massive infrastructure spend to bring online.
Which do you think is easier to bring online - a modest tonnage and grade near surface gold mine close to an existing gold plant or a Low grade high tonnage high capital cost Magnetite Iron Ore project where there is no infrastructure to get the bulk commidity to port?
TYX Price at posting:
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