430 million tonnes of iron ore potential

TLM in their please explain letter just released by the ASX they explain the iron ore potential as follows (1) CID 112.5 million tonnes (2) Marra Mamba 160.0 million tonnes AND all of this is based on previous drilling work carried out some time ago. (3)They DID NOT make reference to the current drilling in th North East corner of their claim block where they have identified a CID channel 35 m deep x 600 m wide x +3000 m long by density of 2.5 tonnes per cubic meter = 157.5 million tonnes for total potential of 430.0 million tonnes.

They may be sitting on a monster deposit. Assume a profit of $10 tonne will over a long period of time gross $4.3 billion. Annualized over a 30 year mine life at 14.3 MTPA that is a gross profit of $143 million per year. We are talking valuations North of one billion as a fully operational mine.