I disagree.Full results for the first 8 holes would be in, they...

I disagree.

Full results for the first 8 holes would be in, they don't just process the fe grade.....phosphorus, silica, alumina would all be available, the company has selectively reported the results IMO.


Unfortunately 5meter intersection at 30m+ depth just don't cut it in the IO business. You need a good reason to remove that overburden, and getting a few million tonne is not feasible. If it were gold ore intersection of 5meters it might be worth it!

Remember, its taken a couple of years just to get permits to drill a few holes, how long will it take (if ever) to get mining approvals? IMO it will not get to that stage because the tonnage/grade/depth will be far from being feasible.

When this company initially came out with its iron ore targets a couple of years ago amidst IO spec fever, i identified it as being a very dubious/ramped announcement by the company IMO. To date I have seen nothing to change my view.

Cheers.