Blueazure
I have not commented previously on IMAs Cyclone resource as I have no personal knowledge of it (unlike the North Perth Basin resource).
Having a fairly quick look at IMA announcements,there is not much for me to get my teeth into but I get the impression that Cyclone is relativly low grade. Nevertheless I do agree with you that if DRX went ahead it would surely drag IMA along with it.
Regarding North Perth Basin, if you look at the tenements that ILU relinquised and were picked up by IMA, they were strategically located at discrete intervals along a single strandline. My strong opinion is that ILU held these in order to prevent anyone else coming along and taking up what would then have been a viable strandline. But eventually ILU decided the line was not worth holding.IMO.
You have to remember this North Perth ground had been explored in detail and over many years (at least from 1972-1992) by Western Titanium and RGC Mineral Sands, now part of ILU. And later by Tiwest.
Cheers
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