Price of Iron Ore, page-1656

Yes I know as also a of holder FMG.

The stats for iron bridge is as follows...

5.45 billion tonnes of ore
which equates to an estimated resource of 716 million tonnes of Iron ore.

They state it is over 20 years mine life.

Their full production is aiming to be 22 million tonnes per year. You can do the maths. 440million tonnes over 20 years from full production. So in reality they have closer to 40 years of proved resource to mine. And who knows how much more will be found.

I think 1 million aud is not an investment FEX would make if they thought the magnetite resource was too small. Otherwise they are just throwing that money away and we the shareholders would not be too pleased.

Direct shipping ore may become less viable later as you would expect a large number of them have been already discovered.

I think lets see what they find first before jumping to dismiss it.