various

There is a lot of unconstructive rubbish posted about GWR. Most appears from 9 year olds who have just learnt to read but cannot spell. But that's OK nor can I.

Lets look at the facts:

GWR is a hematite iron project with less than 100 million tonnes of jorc standard reserves. The BOD think they can increase these reserves substantially, as they have not sold a single share, this is worth listening to.


Fact: GWR is nearly 900 km from Esperance and a little less from the west coast. So developemt of the GWR deposit mainly a quesiton of logistics and tonnes. ie. having paid for the infrastucture can they sell a tonne of iron ore at a profit.

Fact: To extend the railway from Leonora to GWR and upgrade the cost of the railway from Leonora to Esperance could cost between $500 - 1000 million $

Fact: with say a billion $ in infrastructure costs against it, GWR will to come up with a certain minimum tonnage to meet these overhead costs. You can work out yoursleves what this tonnage can be. My view is that it is between 200 to 300 Mt but do your own calculation.

Fact: The GWR ore appears to occur on both hills and low ground. In areas characterised by flat plains the highest parts of hills tend to be (understandbly) aboriginal sacred sites whilst the low ground is formed by soft friable rocks. The quesiton then is how much of the GWR present resource occurs in high ground subject to aboriginal claim and how much occurs in low ground which, when excavated, will result in dust of neglible value.

Conclusion: Given the distnace from the sea, and the high costs of contruction and running (a non neuclear powered) railway the comercial aspects of the GWR depsoit need to be looked at carefully.

To coin the words of a better man than I, hematite is queen, but proximity to port is king.

There have been numerous comments on FAS. In my view FAS is a company with yet to be proven assets and value. Having said that, and being mindful that the directors of FAS are serious professioan persons, I am suprised how many persons take its bid for GWR seriously. I would recommend those who can go short in FAS.

I wil say, on oath, that currently the writer does not hold any shares in GWR or FAS and the comments made above are merely observations.


























faC

Fact: