This is probably why EIO's project will struggle going forward.
Looks like to me that the iron ore at Agbaja has very high phosphorus content. Therefore capital intensive and maybe the real cornerstone investors are not interested in EIO?
Read below, interesting reading and it's all about the area where EIO is planning to drill or have drilled.
Phosphorus Degradation Capability of Aspergillus terreus on Nigeria’s
Agbaja Iron Ore
Laboratory Studies on Phosphorus Removal from Nigeria’s Agbaja Iron Ore
iron ore quality at agbaja
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