Nick10 million tons is a stab in the dark in this " nearest the...

Nick

10 million tons is a stab in the dark in this " nearest the pin " thread.We don't know how much is there until its announced,it could be significantly more or less.

Remember this is an Initial maiden JORC estimate It does not mean thats all they have its just to get the ball rolling.

If FAS are planning to produce 1mtpa initially @ $110-$140 per ton? ( don't know what the going rate is ) thats significant turnover and if its easy to mine with low production costs that equals huge profits.

Does anyone know what percentage nett profit would be typical for this type of iron ore project?

Kev as far as the SP goes,have you got a crystal ball?I havent a clue lets just hope it goes well north of 12.5 cents.

Cheers.