in ground valuation iron ore, page-11

5hareholder, I wish I could be of more help; I not up with Mag ore mining atm but last I looked GBG had the following figures; 755t resource; $918m market cap, 706 m shares on issue; $ 164m cash in the bank; if you subtrack the cash, just on those figures alone the ore is worth $1/t. GBG are a well advanced operation at Karrara though, hence the high val.