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
SFZ Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held