Obviously GOLD is the primary driver for Excalibur but this suggestion of 2.4m tonne of 60%+ IRON ORE is rather an intriguing distraction.
We seem to be talking about ore that has been mined and stockpiled.?
Spot price of Iron Ore is roughly $200t
using an ultra conservative figure of $50t
2,400,000t X $50 = $120,000,000
Rail line leads direct to Darwin port which is very close to Indonesian spot market ?
Excalibur with highgrade gold and possible economic copper at Tennant Creek as well as Tanami project (100%) and uranium assets (both due to be drilled 2nd half 08) we are sitting on a BONANZA.
Co execs set to do a lot of promoting over the next month and fresh assays awaited any time soon. Resource definition drilling ongoing with a view to initial JORC statement for Rising Sun, followed by Nobles Nob and DD assays from Juno and M10.
What more do people want ?? Even the POG is back up over A$900 Oz.
Did i forget to mention that we have $9-10m in cash !!!
Obviously GOLD is the primary driver for Excalibur but this...
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