Looks like the Magnetite guys are back in business, large amounts of product arriving and being stored at their stockpile facility in the Port of Mourilyan.
I see this affecting QBL in the following way:
-The magnetite stockpile facility took about 8 months to build as the drainage and bund works are significant in such a high rainfall area next to the GBR waters. I was hoping QBL could use this in the short term as the IO price wasn't likely to allow magnetite exports IMO (now being proven how incorrect I was - ouch).
Therefore; QBL will likely have to sort out an alternate, which will cost $ and time to build. The current stockpile is only good for a single commodity.
*unless they are only exporting a one off of magnetite of what they have already mined and stored at the mine site.
Anyone know what is going on with the magnetite mining ?
QBL Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
