re: broker report just to clarify in GBG cost update they...

re: broker report just to clarify in GBG cost update they mentioned cost for magnetite not hermatite correct? My understanding is that the hermatite cost is less. (If I am wrong my argument does not stand)

now assuming that is the case it is funny that the report mentions a premium of 14%-20% becasue 2mt is from hermatite so it does not get the 20% premium so for 10mt produce the average premium would be 14% but when it comes to cost there is no discount to the cost that would be associated with the lower cost for the 2MT. They are still mentioning the magnetite cost.

and they mention that the money in the bank would cover GBG for a few years as the corporate burning rate after karrara finishes is very small so in effect there is no real risk of the company needing more funds other then Karrara going over and beyond what was already raised in the previous CR


So at this stage and assuming that IO cost hover around the 120-130 mark then this is still a good buy at there assumptions of IO at 90 is break even at IO at 145 it will generate over $500M in Profit!!!

at 30cents definetely worth the risk as long as you think IO can sustain the 120+ price.