The following is my estimate of the potential magnetite...

The following is my estimate of the potential magnetite concentrate production from the Lodestone 27.19%fe, 1,482 millions tons magnetite IO deposit.

1. a 8mtpa concentrate processing plant similar to KML existing plant.

2. the plant has a similar magnetite Recovery rate of 70% and produces 65.5%fe magnetite concentrate

3. the plant has a nameplate crusher feed of 27.19% Fe magnetite Ore at 3,493 tons/hour ( KML plant - 2,625tons/hr) or 30.18 millions ton per year.

4. the plant can production of 393 million tons of 65.5% magnetite concentrate from the 1,482 millions tons magnetite IO deposit in 49 years.

5. alternatively, a 16mtpa plant can be built to process the 1,482 million tons ore deposit in about 30 years.


The 1,482 millions tons magnetite IO deposit can support a long term mining operation and should therefore have significant value. This could be the reason BOD have decided to keep this mine tenement for all these years.