detritals, page-27

Find8
I don’t think my comment is negative on BRM, if I have a negative view on BRM's resources then I won’t hold any shares.
If ore of 65% fe with low impurity is getting USD85.00 FOB (2009 price should be lot higher), BRM’s ore has to get less than that.
The market hasn’t fully priced BRM on 550mt resources yet, she is waiting for the result of “bulk sample“ testing, and the cost estimate on production and transport from the feasibility study. When the positive results come out, the price will go higher.
Calling the market stupid will not help BRM’s course. For shareholders to make profit, BRM needs the market to go with her not against her.

Pelm11 has concern on purity, but Chinese can accept the ore on lower price, the ore is saleable. So the focus should be on how much the cost and what is the future outlook for Iron Ore price. If the price for premium Iron Ore is at USD140.00 FOB, it should give BRM plenty space to manage.