just a few issues, page-4

WWW111:

I will answer your querries. (great to see some newbiees on HC)


In the mining business, $400,000 is nothing. Do you know how much drill rigs cost?

WW111, your also going on about the grades. Plenty of times you see 60% surface samples but the project then failing to hit that grade at depth. See IRM for case in point. Good surface, poor hits.

Conversely, there have been times when grounds have been explored via basic sampling techniques (ie rock chips) only for companies to later explore them with drilling techniques and discover amazing drilling/ore formation.



And regardless of what you think of the grounds, BHP obviously disagree's with you.

BHP's field reconaissence team was sent out to the project when NSL was sampling and undertaking their fieldwork program.

Why would BHP bother? What so they know that you dont?

A lot of these projects are also historical grade/drilling/reserves dependant.

For example, the company has released announcements stating that the Indian governement has defined a resource of 80mt of haemitite and magnetite resources.

Look, its still early days, but $7.5mn is didly squat? The point being, BHP are interested, the company expect AT LEAST 200MT+ @ 60% FE so the mkt cap has CLEAR POTENTIAL FOR A 10-FOLD INCREASE

See below...

ALL THE BEST MATE!