it will only be valued properly when a transport option exists. Last I knew, it was far too far away from rail, unless they decided to process for Vanadium like Windimurra next door, and that hasn't gone so well to date.
There was however some talk of rail being built that would go much nearer than the current 300 plus km (from memory), that is key to any value being attributed to this orebody.
We'll have to try and find out what the chances are of any new rail being built through this area, that is the key, otherwise it can be said that the orebody has 'future' value, some might say that because we are talking about magnetite, and needs a lot of expensive processing, it is stranded and effectively worthless until that rail option exists, as to build and operate rail and processing plant would probably not be viable. Then again I am no expert in these matters.
The main game is the very large amount of hematite that we have in the Pilbara.
FMS Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
