Nova is NOT high grade, it is medium grade, at 2.1% to 2.6% that...

Nova is NOT high grade, it is medium grade, at 2.1% to 2.6% that medium grade, WSAs 4.9% or MCRs 3.2% are high grade

As for SIR costs, you say they are low costs thats wrong too, the DFS stated costs of $2.09USlb are low but based on $470M capex spend not $900M capex as i predicted many times due to cost blowouts also FIFO workers costs are highly understated esp for WA at high wage expenses unlike that in indonesia or phillipnes where wages are 5%-10% that of WA.

If WSa costs are $2.70USlb based on large production cheap capex then SIR costs will be well above $4.00 once its built and producing. Thats higher than WSA, POS but lower than MCR.

I would not bet on them meeting their building budget at $470M. Yes the banks love SIR, they also loved Alan Bond and Rothwells at their prime too then turned on them like a goose. Thats why they have had so many CRs and many more are to come in 2016 and 2017 just in time for that NP drop.

The chinese, indonesians and Phillipinos are building in the next 2 years 30 processing mills at 20% of the cost of that in WA and at 10% of the staff wages and once those mills go online the NP will drop and production will rocket globally (sound familiar like IOP)

Fact is if you want to invest in NI stocks 2015 2016 (next 2 years) is the time in actual producers producing this year with low capex, low valuations and low debt, like MCR POS PAN not after. SIR will come online with a large debt, largest than any other Ni producer in WA and with NP dropping 2017 due to all those asian mills coming online same time as SIR builds its mill/mines.

The bank friends that you now rely on will not be so friendly then.