conceptual modelling should be banned imo, page-41

As I've already said today, conceptual targets are at the rough end of the ethical pineapple when they haven't been backed up by a body of empirical data.

The whole concept of the JORC code is to protect investors from sharp practices. Conceptual modeling bypasses this protection and unsophisticated investors can suffer as a result.

Consider the debris left behind by today's stampede. The share price is likely to drop to around 40c when the trading halt is lifted and the punters see exactly how much work lies in front of this very small company. What chance are they likely to have of recovering their capital over the short to medium term?

I suspect they have very little chance.

I sincerely hope I'm wrong and that the share price soars but somehow I think not. Iron ore mining is at the heavy industrial end of the mining spectrum and a small company's chances are limited unless the four major factors are working in their favour.

1. Pre existing infrastructure.
With spare capacity in that
2. Pre existing infrastructure.
And access to that spare capacity in the
3. Pre existing infrastructure.

4. Intrinsic advantage in the ore itself.