Ann: Pause In Trading, page-9

well 62% iron ore up again to 122$aud we already know there is 5mt inferred if this gets upgrading to indicated then we get an update to 7.5-10MT of high grade ore and if management fast track the project given infrastructure if already in place this is a small but profitable project
opex is the main issue here but if prices remain this high still should be extremely profitable

5MT @122$ aud is $610m in ground value
7.5mt is $915m
10mt is $1220m

current ev is less than 15m

plenty of upside and hence the strong technicals breaking through new highs and up 2.7x in share price since announcement

traderrr