io prices fin review story, page-21

Hi (joeborgo)

Fact they had problems with mine 1 when drilling and had to move the drill rig to mine 2.
Fact they said the grade could be lower then expected.
Fact you do not know if they can get a spot price for their iron ore.
Fact what are they basing their figures on,not on drilling or past records but surface samples.
Fact the $38 per tonne or $28 per tonne are not based on spot prices that you know of.
How can you be contracted to do the mining,transport and shipping at $33 on the say so of NSL,when they and Natural Resources Consulting are going by surface samples and setting the cost of mining at $33 per tonne.
You can not blame the contractor if the grade is lower then expected,the over burden is deeper then expected.

The contractor can give a price to transport the iron ore to port,can give a price to dig X amount of tonnes of over burden based on figures given by NSL,drill,blast,crush,grind screen iron ore going by what they are told by NSL.If the figures given by NSL and Natural Resources are wrong,do you still expect the contractor to do the work at the same cost?

If as it has been said on the thread NSL read the post's,perhaps they should respond to the questions that are being put forward to clear up the matter.

It is clear to me,no one on this thread knows very much about the full facts on what is actually the facts of the tenements,costings,grade,contract details,selling structure being implemented Etc.

Regards
Westcott.