Did anyone notice that the MMX resource release actually decreased the hematite (DSO) resource from 67mt (IPO) to the current 50mt?
The increase came from only adding in a small magnetite resource.
Other magnetite hopefuls such as Gindalbie, Grange, Australasian, Sphere etc promote in the +1 billion resource potential due to high capital-energy intensive start-up costs.
Based on magnetics and historical drilling one would think that the best part of the strike has been drilled and perhaps additional DSO tonnages will be limited.
Corporate activity must be imminent for a proposed +25mt pa operation.
Food for thought, DYOR.
MMX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
