https://twitter.com/StockheadAU/status/1399476026015617026?s=19Me...

Meanwhile, we picked up Eastern Iron (ASX:EFE) (figure 6) late last year as a potential iron ore producer that is currently well down the track to having its 2014 feasibility study (CAPEX $36m, $26/tonne finished product) updated by Perth-based consultants Engenium Pty Ltd.Figure 6: EFE 2-year share price chart (Source: CMC Markets, 28 May 2021)The plan is to beneficiate ore from Eastern Iron’s 9.05 million tonne at 50.8 per cent iron JORC resource (table 1) to 58 per cent fines (currently trading at a 25 per cent discount to the 62 per cent fines price) and then transport the ore by road 234km to the Port of Eden.Table 1: JORC Resources at Five Mile (Source: EFE investor presentation, 7 May 2021)The company recently completed a placement/rights issue at $0.008/share and currently has about $2m in cash.Based on the current spot price of iron ore, I think the numbers are going to look pretty good, and with a low enterprise value (EV) around $7.5m and potential to generate in excess of $1bn in revenue over a seven-year mine life (based on the 2014 study), there could be a bit of upside left here.