i think we must not underestimate Iron Ore here:compare it to...

i think we must not underestimate Iron Ore here:

compare it to WPG , Pecular Knob = CAPEX 170mln + opex $70 per tonne ; NOTE WPG has excellent grade FE 63% but its ore below surface on avarage 60 or 70 meters >> so some excavation hence opex $70

Their ore demands $155-160 per tonne

Now for Marmota

Grades FE 55% assume we produce 3.5mln tonnes as well
Price US$115-120


our OPEX should be lower , we have outcrop of 8-10 km and from it we can get 80-100 mln Tonnes of 55Fe% DSO

So, if our Opex comes at $50-55 per tonne ( which it logically shoul) and CAPEX 150-170mln over longer mine life over 20 years( with MEU tonnage) we should still be all up cash cost within AUD65-70 per tonne


I believe very attractive.... well even if margin $30-40 per tonne it is EBIT of approx $100mln


but we are 8-12 month away from our JORC and official numbers


looking at 8-10km outcrop it will make big difference to OPEX