I read an article in the Aprils Mining monthly telling the dream about MMX's aspirations in the midwest bla bla and more about the governments intention to throw money at the Port and Rail projects to create more jobs etc etc. As I read through the article it stated that Trevor Matthews has predicted a 1.5b resource and of that 120-150MT will be DSO ONLY. That is absolutely crap. In there original predictions they were say 350MT of DSO Although Trevor goes on to say that the magnetite resource is very different to that of others in the midwest area and will have a rough cost of $40 per tonne (overall to get to port) compared to $47 per tonne which others face. In other words if iron ore prices fall considerably we can kiss being a successful miner good bye. MMX better some how improve there DSO or come up with a better idea.
I say thank god for the infrastructure......
Anyone's thoughts ??
This is not a downramp....
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I read an article in the Aprils Mining monthly telling the dream...
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