MFE 0.00% 1.0¢ magnetite mines limited

Ann: External Review Confirms Strong Economics of, page-9

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  1. 2,689 Posts.
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    re: Ann: External Review Confirms Strong Econ... Mark,

    If ROY slash spending to absolutely minimum (ie $400-500K pa (per year), no exploration) at least $3m cash in the bank now can stretch for 4-6 yrs. Hopefully this will give China enough time to recover.

    In the mean time ROY should focus on JV partner. ROY's OPEX is about $69/t so still got $20/t profit left (current iron ore price $91/t), it will be extremely hard to start this project but not impossible. So IMHO keep spending to absolutely minimum until find a JV partner.

    "As for an investment or making money from share price appreciation all these companies and thousands more like them in this market are going nowhere"

    100% correct IMHO (eg AFR, ARU, FMS, CAP, KBL, RES, SRK etc). Absolutely!!! You can see almost all explorers sp got smashed by 90% with the exception of nickel and may be copper explorers due to nickel and copper prices moving up.

    Just IMHO
 
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