It seems from that document they were hoping for a larger resource size. This may be the biggest issue is that the amount of processing equipment needed to bring it up to 70% FE content that will cost like a hundred million and yet the resource will only last for less than 10 years. Maybe I am wrong about that.
From what I read a magnetite resource is far more intensive with processing and hence it only makes economical sense if the resource is in the hundreds of millions of tonnes or billions.
It seems from that document they were hoping for a larger...
Add FEX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
29.0¢ |
Change
0.010(3.57%) |
Mkt cap ! $201.4M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 29.0¢ | 28.0¢ | $139.0K | 488.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 243669 | 28.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 320181 | 15 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
28.8¢ |
Change
0.010 ( 1.77 %) |
||||
| Open | High | Low | Volume | ||
| 28.3¢ | 28.8¢ | 28.0¢ | 152817 | ||
| Last updated 15.58pm 03/05/2024 ? | |||||
| FEX (ASX) Chart |