Iron Sands, page-11

moorookamick. Don't get too carried away. Instead of bagging the company of which you obviously know little, why don't you conduct more research via their web site and market releases?
The product they have offtake agreements for, and EOI's for more than they can produce, is a niche product for certain mills which require this particular mix of Fe and Vanadium.
Op ex around $26/t plus finance. Very low.
In no way will they be competeing with the big boys as they are not supplying the same product!
They have the capacity to double production (subject of course to Fijian approval---expected by early indiactions) at modest additional capex (approx $20m).
The bottow line will be excellent and it all begins next year following the beginning of the serious work by a huge team of workers from Cina and local commencing this month.
DYOR man.