to those that hold or looking to buy, page-2

Hi (jovann)

We are talking about magnetite not DSO.
Even DSO will cost a lot of dollars to be in a position to start digging it out.
How much do you think it is going to cost, hiring drill rigs and crews - sending cores to be tested to the laboratories - for hiring trucks - machinery for digging it out - explosives to blast the ore - crushing machinery - screening equipment - benefication plant - wages for mine workers - directors - geologists Etc:?
Look at companies in the Pilbara and Mid West to see how long it is taking them to start getting it out of the ground.Look at the cost involved in getting to the start of digging it out.A lot more than $25 million.
Time line several years.

For Magnetite you could be looking at bottom $500 million to $1 billion to set up a benefication plant to end up with a product to sell.

I am surprised CAG can just go in and start digging coal from surface unless it is from coal mines that have been mined out and has pockets they did not bother touching.
All coal miners I have read about have to drill to come up with a resource to plan a mine pit or under ground mine.

Regards
Westcott.