Kamor,I think you will find that FXR find is magnetite, as if it...

Kamor,
I think you will find that FXR find is magnetite, as if it was haematite the share price would not be where it is now. They would have also done rock chip sampling as quick as they found the highly magnetic deposit, if it was haematite. Its definately magnetite, as for the quantity well I think no one can dispute CFE has probably got the largest deposits in the area. The latest announcement preluding to twice as much thats a total of nearly 8 bt. I dont know what the strip ratio is for the CFE deposits are but I am hoping its similar to GBG 0.42:1, someone may want to elaborate on this. With CFEs extra find you will probably see the quality come up as well. I am confident that they can get the impurity levels to below 5%.With the iron ore market tightening and prices inevitably going up and DSO finds becoming increasingly less. Magnetite will be the iron ore flavour of the month. It may not be this year but it will happen.If you consider the amount of capex required to get Magnetite hopefuls off the ground, which is huge, this will become relatively insignificant in a few years as demand is not going anywhere, this is why FMG JV partner has commissioned FMG to find magnetite. Some people are probably dismissing the metallurgy of CFE as too difficult, however I think you will find the closeness of infrastructure offsets this hands down. All in All its only a matter of time CFE gets going. You will probably find when they quantify the new deposit will increase the market cap substantially.
My only concern at this stage is I that I dont know if they have enough cash in the bank to complete BFS, which is due april next year, as I dont want the company too stall, can someone elaborate. If they do however then great it will just add even more to the market cap.My thoughts are that once the new find is quantified the SP should be around 75c, considering the value the market has ascribed the present deposit " the project ".