I think you are right. No drilling has been done yet. No fact's to the expected resource figures. I believe,no trenching has even been done yet. I am not saying it will not be a good prospect in the future. To get to reserve resource figures for the projects,could mean spending several 100'S of millions of dollars going by what it has cost SDL so far. It could be several years before drilling is finished,pre-feasibility,feasibility studies,mining permits,conventions,conservation studies etc have been gone through. The 500 to 900Mt of 40%Fe to 65%Fe could average out at 55%Fe.Until they do a lot of drilling they will not know.
Regards Westcott.
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