Hi Wescott,I have read the announcement and if I am doing my...

Hi Wescott,

I have read the announcement and if I am doing my math correctly 16,666 tonns/month will be roughly 2mil per month in revenue (based on $120 per tonn). Hence about 24 mil revenue in the first year of operation.

1.The total cost of Beneficiation Plant is 2.3 mil as per previous announcement, so why do you assume they will need to raise capital from the market?

2.On the coal front, I am sure they will need capital but this may come in a form of a parnership with a majour, or other funding sources.

To me ,currently I am purely making my investment decisions on the Iron Ore project. With a 16 Mil MC currently I see more reward than risk. If they can generate even half the projected revenue,(ie 12 mil) assuming 40% gross margin, gives us 5 mil per year. Using a 10xErnings number(which again is very low), gives me 50mil MC. Thats a 3 bagger from here.

DYOR!