benefits of bhp/rio merger fro brm, page-9

Hi Haemitite, a balanced view point has always been appreciated on BRM and from you is no different!

Yes, grade is hardly irrelevant. However posters like Mozart have always been clear about grade to cost ratios.

What you have read is now no longer relevant regarding beneficiated ore. From the latest metallurgical test work released in the Dec. Qrt report the average final grade Fe (%) was 60.7 This was a marked improvement on previous results.

Your comments regarding the impurities of the DSO are certainly valid. More recently however the DSO found at Abalone had far less Alumina than Rockhole Bore and NW sector, unfortunately silica remained high.

The real fact is that no one knows for certain until the PFS is released in late July. For you to think Marillana wont get to production is a fair enough, infact the market agrees with you. The current SP confirms this considering BRM has $100m in the bank! The real advantage of Marillana is its size. Even if the final beneficiated product has higher OPEX than its competitors, the 40 yr mine life would still interest clients with long term interests.

The count down to the PFS has definately started.