guys, i reckon our time will come. If IMX can do it with lower...

guys, i reckon our time will come. If IMX can do it with lower grade and the same methodology, then we have a precedent.

From what i recall, OPEX are similar, but i cannot find any definitive figure. so lets assume the same. they are using panamax vessels from memory, so that is a fair assumption.

ok, - 1.7mt production. average to higher grade

IFE - 1mt as a ramp up figure, then 2mt thereafter. high quality ore

capex - similar, but i think IMX was lower. both low cost capex

sales - IMX has offtake agreement, we have sales agreement

timing of payment - IMX? dont know. IFE within 30days of shipment.

M.C. 45mill vs 150+

reality is that we are comparing an "up and comer" VERSUS a "just made it" I guess the important decision for us is to decide whether IFE has the goods to get to where IMX is currently at by Dec 11. I think we have the resource and the team to do so. but that is just my opinion. fairly obviously some dont think so, but that seems to stem from delays. I'd suggest that delays are frustrating but not the determining factor in a longterm investment. IMX found light at the end of tunnel - we will too.

further insight would be good - im just an amateur!

cheers
Split