fun with maths

Rough numbers.

550,000,000t of Fe Ore / 80,000,000 shares = 6.875t/share

I have 135,000 shares = 930,000 tonnes.

Apparently, whilst its sitting in the ground next to BHPs rail line and not being tossed onto a ship in Hedland that almost million tonnes of Fe is only worth $300,000.

Thats where I don't understand the math.

Its free dig. So you don't need drill and blast (15% cost reduction), and you can put a huge bucket on your excavator (heck could we do it with a BWS in the long term?) because breakout force isn't required. You will need to upgrade it using some jigs and an HMS plant (Capital). Pretty ho hum these days. Then put it in your transport system of choice and send to the port.

There will also need to be a marketing person in China drinking Baijiu and doing Karaoke with the various steel mills.

Comments about grade and contaminants make me laugh. My brother-in-law owns a small iron ore operation in Jilin province North China. He mines 35% and upgrades it (mill and float process) to 40% plus. Spends most of his time in Macao these days.

All we have to do is wait while WR bolts this together. Luckily he's done that before.

I have a high risk investment profile by choice. This is the lowest risk stock I hold.

Stu