srk in situ 9bill sdl in situ 55bill, page-4

Omegaoil,

Rather than pointing out that others do their homework, maybe you should read what was actually written.
Might have used the word "potential" somewhere there.

All I was giving was an extremely rough comparison b/w SRK and SDL, highlighting the comparative "potential" size of Mbalam project. Nothing more, nothing less.

Even if one takes the 1970s UNDF inferred hematite resources of 218mt high grade hematite as a comparison to SRK then SDL's in situ value is over $10 billion.

And yes, you are correct, it'll take a while to come up with a JORC resource, but no one orders 2 extra RC drill rigs to be built if visually there is nothing there.

Lastly, although Mbalam is about 470km from the coast, based on the 2006 scoping study by Promet, even factoring in the $2.5 capital cost and long term iron ore prices, this project is expected to have a capital payback period of under 3 yrs.

So, if you can find any other greenfield hematite projects of this scale out there, then wash your hands of SDL and move on.