Ahhh why not bite...5 likes means an audience...First: AssMiner...

Ahhh why not bite...5 likes means an audience...

First: AssMiner 1, Mel-from-HR 0.

Second: The project was real. Magnetite was produced. A couple of ships sailed. Money changed hands.

Third: There is polymetallic value (copper, gold, cobalt) in that heap which has been known about for decades. It's too hard on polymetallics alone, but if you can sell the magnetite that changes things. There are still untested metallurgical options. They could have done a lot of metallurgy with all those terribly important wages and accommodation bills and interest payments. And couldn't, because shareholders in shit shows like this one are generally not attuned to doing R&D.

Fourth: There are probably processing options available in the PRC no longer practically available in Australia, like roasting off the sulphur. But then it's just a quarrying operation.

Fifth: There is geology under that tenement. Does anybody care?

Sixth: I have no idea what happens to a company in Elmore's present state. There's an announcement of some kind due in a few minutes.