What a day! A big thumb up for longs! Pleasekeep up the good...

What a day! A big thumb up for longs! Pleasekeep up the good work by sharing true information about CXO.

Before I started buying back the cxothis week, I had many questions, just like some of the holders or holder-to-behere. This morning I posted my finding of CXO compared to Atlas Iron 2015 andgot a few questions. I think it is good to make a summary of the question andanswers here to spread the positiveness.

1.Q: lotsof people around me saying Core is equivalent to Atlas Iron at 2015 to 2016,who was almost gone bankrupt and the shareholders lost most of the investment

A: I had been through that period and canconfirm core totally different to Atlas (ago). The following is the key date comparation.

		(AUD)	Core Now	Atlas 2015
1		Cost price	$900 per ton of SC	$50 per ton of Iron Ore
2		Major supplier cost price	$700 to $1000 per ton of SC	$20 per ton of Iron Ore
3		Product spot price	$2,000	$45
4		Debt	0	$267Million

In summary,Core’s cost price is close to hard rock market average, so there will be veryodd that the spot price of SC drop below the cost price. Even if SC6 pricedropped to $900 AUD per ton, Core will be still here patiently waiting for theSC6 back up to $5000AUD level and making huge profit. BECAUSE it has 0 debts.But now CORE is making $1000 profit for every ton it deliverer to customer.

2.does this factor in the grade of the product, as Core isproducing 59% grade as far as I know. Also what about the all-in costs? whatwould they be?'

The grade of the mine is good, 1.5%. The methodCore is using is DMS. 60% of recovery is considered not bad. And it is stillgetting better. Good like AVZ's DMS testing is only returning around 68%. Forthe cost, you can refer to @WhatsTheTip post https://hotcopper.com.au/threads/banter-and-general-comments.5838196/page-34430?post_id=71238302

$900 AUD is the cost.

3.Where can I find some information regarding the CAPEX of BP33?

This is what I found

https://ntepa.nt.gov.au/__data/assets/pdf_file/0010/1069327/main-document-bp33-underground-ser.pdf

On page 89:

'Benefits to the local and regional (NT) economiesare expected to accrue through the generation of jobs and the sourcing of goodsand services required for construction and operation of the BP33 Project andextension of Grants processing facility. The capital cost to develop theproject is estimated to be $A33.79million, with the expected capitalexpenditure for the project estimated at $A45million into the local economy.'

Also, my friend alsohelped me find the following from earlier financial reports.

4.‘The capex is estimate was from 2021, the board approved early works ongoing at BP33 is $45to 50 Million so I wouldn't use that figure.’

I agreed with this, butIn the application to government, it was roughly $80 millions. I think double ofthat amount to $160million is safe bet.

5.The other thing is cash-flow and how development of bp33 andto make it operational, plus any other drillings to increase resource, etcwould affect the cash at bank (this this is a much more complicatedcalculation, and Im not sure anyone here would do it with any confidence? orwould they?? '

The $50 million Early work fund already coverssome of the capex. And the original plan was only requires $80million of capex.Let's say double of that. Then further $100million may be required. With thepositive cash flow in the next few quarters, $100m is still achievable withoutany debt.

GLTAH. There will be up and down, but Iwill hold tight because I know this is one of the rare opportunities based on my 'gut feeling' of 17 years ASX investment experience.