eureka

Being a subscriber I have a copy of the report,

Hazelhurst states on what has been released from the Official Govt Mines report....may ot maynot be jorc compliant.. Drilling and costening to 50 meter is a bloody good start,others report 5-10 meters at a much lower grade of 30-32% as against 51% Mno2.

Hazelhurst does some back of the envelope estimations using 50 c/lb..this is not over the top.

He then talks about low mining costs as I assume its a blast and truck situation easily contracted out.

What he doesnt say that some of the other supposed rich mines eg Woodie Woddie and those in Gabon require substancial benefication on site infrastructure....this deposit is very much DSO and can be used by many other china miners to upgrade their low grade deposits... This mongolian deposit will have many wanting their ore and I suspect prefer it to others.

I still stay within my original post of saying this deal is worth around 40c/ GCN share IN THE SHORT TERM.....the timeline to production could be very short as Amex marine magnetite deposit of Figi...it took the market 2 months to wake up and went from 40c-140 now at 120. The market is slow sometimes to recognize value