The Wilgerup Haematite resource will be the first revenue earner...

The Wilgerup Haematite resource will be the first revenue earner for Centrex. The 2 companies (Shenyang and Baotou)that signed the Heads of Agreement to purchase the total haematite resources, know what the Fe, P, SiO2, Al2O3 grades were when they signed.
But the larger Bungalow Magnetite resource is the Centrex "company maker".
"The Bungalow magnetite deposit has been independently assessed as having an exploration potential of >250 million tonnes of magnetite BIF to a vertical depth of 200 metres (Centrex Metals Prospectus p 50). Previous diamond drilling returned an average intercept grade (at a cut off grade of 20% DTS) of 38.02% DTS @ 67.66% Fe and 5.37% SiO2, 0.03% Al2O3 and 0.01% P."
NOTE THE LOW PHOSPHOROUS. If and when Baotou comes up with the first $4 million payment of this $40 million deal, this will put Centrex on the radar of the institutional investors. Baotou is in the Bungalow Magnetite JV without asking any other Chinese company to come in with them. They have been to the site twice. They just need the Chinese Govt to approve the investment.
Centrex's shares are tightly held. This keeps the pumpers and dumpers away, which is more than I can say for the rest of my portfolio.