Care to explain you're reasoning?Feasibility clearly outlines it...

Care to explain you're reasoning?

Feasibility clearly outlines it is based on use of a Mining contractor. The feasibility study also allows 4 months of pre-production work which would include access ramps etc. From there it is a fairly straightforward operation of mining down the ridge.

There is plenty of upside if the detrital deposit is proven up as well.

From a grade perspective, whilst they are slightly lower grade than FEX, this won't represent a massive difference in received price at current market levels. SRK also predicting 75% lump, whereas from what I can find, FEX is about 25% (from an old announcement last year, but can't find anything more recent). Lump will attract its own premium.

i have no doubt that FEX price is justified based on their current project status, but if Iron Ore price stays similar to now, I don't see why SRK won't be valued similarly when they are at a similar stage in development