Warnie thanks for the Wiki article.
The whole issue is that blasting is not being used and "huge earthmoving equipment, such as power shovels or draglines" are not being used either.
A surface miner is a machine, commonly used for coal and limestone mining, which is being proposed (with no plan b)to be used by FMG.
These machines have never been used for "hard" ores before. Haematite being one of the hardest ores.
Read Redrocks post BEFORE you buy this stock. The risks are huge. Equipment manufacturers don't know if their own equipment will work yet all the pseudo experts - like Twiggy - have no doubts.
I'm not saying this stock is a dud. But it could be. There is a huge likelyhood that even at 45Mtpa, if it ever reached (which again is only a 70% chance of happening in the next 3 years), the operations will operate at a loss.
The tenements are huge yes. The Iron exists yes but there are reasons why others have tried and failed.
once there was a dream, page-31
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |