Legume, I'm sure the new year will bring many good news...why...

Legume, I'm sure the new year will bring many good news...

why releasing a JORC when the IO sticks out on the side of the hill?


maybe 500,000t ROM?
maybe recovery grades exceeding expectations?
maybe U$2.5 million in net contribution?

well, the next announcement/s will tell...

facts are:

♦ SAFM Mineracao is surrounded by established iron ore producing companies, VALE and CSN.
♦ Situated within the Iron Ore Quadrilateral.
♦ Defined well understood geology Established Mining operations
♦ SAFM is able to get to a profitable production level for minimal capital expenditure.
♦ Existing treatment facilities and operating plant can produce up to 900,000tpa, SAFM will be able to generate early cash flows from a low cost base.
♦ The current mining license is open ended and consequently SAFM only needs to observe their legal requirements Security of tenure
♦ Local steel production capacity with a number of plants within a 250km radius of the project.
♦ Well established iron ore area that provides ready skilled workforce
♦ Initially targeting a treatment rate of 1.8 million tpa to produce 900,000tpa of saleable iron ore.
♦ Second stage of mine production targeting a treatment rate of 6million tpa to produce 3million tpa of saleable iron ore with an additional capex requirement.

comfortably holding 100k