isnt this way too deep, page-2

Opaline is better positioned to answer than myself, but the short answer is no, its not too deep.

It is of course a question of pure economics in terms of the strip ratio for mining and the modelled cashflow from such an operation given the mining parameters. My understanding is that it is comparable with other magnetite projects and that the wide intersections are sufficient at this early stage to drill out a resource. A scoping study is underway to assess the economics of mining.

As Opaline has pointed out, the tin credits change the economics dramatically, potentially free carrying the iron ore mining operation. Major plus if the tin can be extracted.

It would be worth taking a look at the nearby Savage River Mine and seeing how deep they are mining their deposit. I believe this mine has been operating since 1965, so its therefore making an adequate investment return given the mining paramters and deposit style/depth, which I assume is similar to what we have at VMS.