in ground value..., page-9

Good post RedFrog.
In an earlier post i compared the proposed 500MT PDY JORC to the value Pattersons put on Grange Resources' 650MT (36.5% Fe) Magnetite resource at Southdown - which was $109M (in february 2010).
500 / 650 = .76
76% of $109M is around $86 million in ground (17c/tonne)

As you noted RF, a discount would need to apply due to Peak Hill being a lot further from port than Southdown.

Others, be careful not to compare Haematite with Magnetite (though PDY has some of that too!)

check my figures just in case, and dont forget that 500MT is just the start.