I've just done the numbers on the new Magnetite resource. 47 million tonnes of concentrate at current prices $US160 for Chinese and for Coal washing specs which Rocklands will produce is selling now at $230 tonne. I did the multiplication of 47m x $160, it is $7.5 Billion. This is in addition to the Rocklands Copper /Gold Cobalt/Magnetite Resource.
This added to the 3.3 billion lbs @ $US3lb is US9.9 Billion giving the Rocklands Deposit a total revenue stream of US $17.8 Billion. I wonder how the stock is $2.00, should be $12. As I see it the extra Magnetite is being mined as part of the strip back for the Copper so the cost of Mining of the extra Magnetite is $Zero.
This just gets better and Better. So much for the downrampers.
CDU Price at posting:
$2.01 Sentiment: None Disclosure: Held
