Guys - constructive comments please there are few people on...

Guys - constructive comments please there are few people on hotcopper that can add value to the following subject rather than one liner throw away comments

can we get some constructive views on the latest target announcement:

- some postives
Drill intercepts of 192m @ 35.9% Fe (OSRC001)
Drill intercepts of 271m@ 348% Fe (OSRC 002)
Open at depth
iron ore sticking out (it is a mountain) over 150metres high = easy open pit mining= low cost mining
DTR's of up to 64% Fe
Mass Recoveries of up to 88% (averaging 42%)
[Note this is based on very limited 5 hole RC drilling - company states further drilling requried RC AND Diamond)

Drill results like this are quite good
Project size could be up to 650mt
Mt OScar could be a very large CLOSE to port/infrastructure/rail 25km
Project close to MCC Cape Lambert Project (1.5bt project)

issues to consider - grade is 60% plus work required on silca reduction - now this sounds familiar to cape lambert - you may recall everyone thought this project was not a goer and grade and silica was an issue (eventually grade was achieved 63%+ and silica 5-7%)

After 18 months of hard work - cape lambert ore was shown to be able to be processed into a saleable concentrate. Subsequently MCC did its due diligence and paid $400m

There is no doubt that every project has positives and negatives

The positives of this project are overwhelming - ease of mining the outcropping ore body and close vicinity to Karratha - hence the reason why there is chinese interest in this project - AND most importantly synergies with MCC and possibly CITIC's $5 billion Sino Iron project down the raod
[it does not need $100's of millions of dollars to build 100kms plus rail /power / infrastructure - this is a massive cost saving]

Another 12 months on this project and there may well be a different and much more positive view on mt oscar - this is just early days

is it just me or do you think there is a big project here?

Over to you the Fe people out there