Looks like I have touched a nerve here. Thank's Showman for the support but if you read my post carefully I think you'll find that I'm just trying to give you a balanced point of view, and am happy to be proven wrong and have an objective discussion.
Needle made a good point about the December announcement. However I will stand by my original comments about management not really disclosing what the resulting Si levels are.
SiO2 grades were reduced by 55 – 70% for pisolite detritals and by 25 - 45% for mixed detritals.
Now even if we assume that ALL of the ore is pisolitic (which it is not...) you still get an Si range of 7.5% to 11.25% Si range. Thus, AT BEST you MAY get something remotely marketable but at the very high end of the acceptable Si range (is 7.5% even acceptable??)...
This is why I get very suspicious when directors announce something like the December announcement detailing rough Si etc reductions but subsequently leave those statistics out in the beneficiated ore stats - only quoting the attractive 59% Fe! headline.
Look, I'm again not saying that they won't be able to tweak the beneficiation process but the reality is once all that clay is washed away the resulting Si is very difficult to reduce further.
There is a chance but I would say at this stage they definitely have not cracked it yet and there is a high risk that they won't, for the detrital ores.
Which makes their billion tonne estimate extremely suspect...
Just my opinion and again happy to be proven wrong.
Cheers UIO
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