NEWSFLASH: investors know the spot price of iron ore. the fact...

NEWSFLASH: investors know the spot price of iron ore. the fact that the company uses a conservative value in their studies does not have a baring on the SP.

people are not going to wake up on the first day of shipment in 2014 (2015?) and go "wow, we're actually getting $200p/t, not $65... this company should really be worth xxxxx..."

i.e. spot price of Fe is constantly being built into the current SP



and the current SP reflects the risks still associated with the project, not to mention the time frames involved; 2014 is the date flagged for production, lets call it start of 2015, thats 4 years away... 3 years to pay off debt, that makes it 7 years from now, so say 10 years time = max profitability... who knows what the world will look like in 10 years time, especially Africa...


that said, im a believer, will be buying under 40c...