in ground valuation iron ore, page-14

Thanks filcorp for the GBG comparison.

I'm just bumping this thread to see what other people's thoughts are with CAP's JORC. For mine I feel the market really hasn't got a grasp of what the stock has going for it.

On Friday, the announcement revealed a JORC of

- 1.4Bt
- 15.5% DTR
- 70% Fe

CAP's 20% stake therefore earns it a 45Mt concentrate @ 70% Fe.

Now when you compare this 45Mt figure to GRR's concentrate of 330Mt and GBG's concentrate of 510Mt it seems fairly small.

Fact is, this concentrate could easily triple within the next 6-8 months of drilling. All this is good, but the clincher for CAP is that they pay no CAPEX. For a magnetite miner, this will save literally hundreds of millions of dollars.

Having factored all this in, what would be a good estimate of the EV of CAP's resource at this stage?

Sorry for asking again, I'm just curious to see what people's thoughts are on the matter.