Details of the four Mining Lease applications are listed below: Mining Lease Application No. Taluk (Village) Minerals Area AML/519/2005 Chitradura Iron Ore and Manganese 600 acres AML/503/2005 Holalkere Iron Ore and Manganese 600 acres AML/578/2005 Hosadurga Iron Ore and manganese 1,000 acres AML/518/2005 Chitradurga Iron Ore and Manganese 300 acres
The area of the leases being applied for totals 2500 acres as per the MOU announcement on the 8th May. (copied above)
Now, as per google: 1 square kilometer = 247.105381 acres and that means that 2500 acres is 10.12 sq kilometers.
So if we take Sparkler's top 3 estimates, they total 14,407 acres for 1.276billT or 88,568 Tonnes per acre. Now multiply that by Cluff's 2500 acres, and we get 221,220,143 tonnes.
All speculation and DYOR but you can't fault Sparkler's maths.
CFR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
