There is a huge amount of haematite in the ground between...

There is a huge amount of haematite in the ground between BHP/RIO/CVRD but the price is still projected to go up around 30% next year.

There are billions of barrels of oil in the world's reservoirs but the price is $US80+.

It is a question of production.

Production relies on finance and development.

Finance relies on supply contracts and AXO has these in place. Thus it is highly likely that AXO will go into production.

The other limit is time for development - I understand that AXO has to pre-order ball mills as they have a two year lead time. This is for a moderate sized coarse grind project.