I mentioned to someone today that analyses resources stocks for a living that EIO seem to be expecting grades of at least 58% when the met results are released.
My initial comment to him was that if it was in fact 58% that it would be at the lower end of the 58-62% range and that would be seen as a negative.
He told me that it of course depends on the inpurities, but at 58% that is similar to Fortescue.. and of course that is not a bad thing at all.
So I did a quick google search and this link is FMG's Reserves and Resources Report as at 30 June last year.
If you have a look you can see that he is right.
EIO Price at posting:
32.5¢ Sentiment: None Disclosure: Held
