Ann: Strong results from Yerecoin resource drilli, page-5

re: Ann: Strong results from Yerecoin resourc... Hi Whipper,

The Yerecoin project could well be a company maker with high Fe grades after processing of plus 70% Fe.

With a state raiway and Port close by and say 7.5 M tonnes per Annum we should make some real good $$$$$

The low processing cost of the magnetite resource and the quick pay-back should make this a goer of a project imho.

Just remember 7.5 M tonnes per annum, at todays high price of around the US$160 or so per tonnes, could give ua a free cash flow, after cost of around $100 per tonnes which gives us at 7.5 million tonnes $750 Million.

Remember after processing the high Fe would give us a premium product which would be attracting a premium price.

So payback for the processing plant and mine development should be able to be paid back after only about two years of full production at these high iron ore prices.

And we are only talking here about ONE of the projects this fast growing company has.

This company has some great projects and keeps delivering on the exploration front.

Plenty of value remains to be unlocked here, and a tremendous upsite in the near future imho.

Unless ofcours China is going to collapse on us, but I sitll see that NOT happening in the near to medium future.

good luck to all

jojo