Only 6 million MC.75 million tonnes plus - a smallish resource...

Only 6 million MC.

75 million tonnes plus - a smallish resource compared to some other iron ore stocks.....

grades average 25% Fe.

However plans to downstream process Fe iron to pig iron at site to improve export grades to 65% plus.

From memory they anticipate a net profit of $127 per tonne of exported pig iron. This is a lot of money. Equates to roughly $50 million per year profit from my rough calculations.

However the downside is that the whole mining and plant is going to cost $300 million.

Currently drilling with resource upgrades possible.

Certainly a spec share but with considerable upside.

Any thoughts on this from any one knowledgeable? My main concern would be the financing...