Hardly any share volume moving, maybe this is just a recovery back to the prospectus valuation. I'm not sure how much iron ore they're producing, but the prospectus says they can produce 10,000 tonnes per month of high grade magnetite, so its very small scale at this stage.
The real question therefore is, what's their cost of production like and how quickly can they increase production. And of course how much resource are they sitting on?
Ann: COO Appointment, page-14
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