Today should have seen IFE skyrocket past $1.
Even if the actual reserve is only 6mt that is enough for 3years to make plenty.
I also like to point out that Ultima Dam west is not included in the resource. They have drilled some great hits in the past but not enough infill drilling was made to JORC standard. However from memory there is millions of ore estimated there, which I assume would have a bulk as DSO. So there is plenty of upside in the resource just there.
So to me the product is there, they know how to get it out of the ground and to get it to 62%Fe with little capital, they have stated how they can get it on the trains and then on the ships and they announced they have buyers ready via the marketing agents.
Once the funding is stated then we are set to go, however even if they need $15mill from us shareholders I see no problems raising this money after the DFS is revealed.
It is such a no brainer project and the small dilution will not be an issue at all.
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