is it time to unleash the hounds, page-18

no worries

a mineral resource has an "in-ground" (in-situ) value which defines its worth

the "in-ground" value is the market price which a buyer in a takeover may buy the resource for

so iron ore, which currently sells for $150+ per tonne after mining & processing, may sell for $8 to $10 per tonne when in the ground

it may cost a takeover party $8 per tonne to buy the resource

so the $4 per tonne i have used is a very conservative (cheap) valuation

if NXR discover a high quality high grade resource they may be able to sell it for $8 per tonne

regards