Buc, I read that and he's right - they are spectacular. In fact...

Buc, I read that and he's right - they are spectacular. In fact I think that's the deepest single hit Atlas has ever announced. But you have to appreciate the difference between direct shipping ore - which is what we have here - and magnetite. Atlas' entire DSO resources combined equal 1.1Bt at all their projects, so you're never going to get 2Bt at Corunna Downs on its own.

Atlas' Ridley magnetite deposit is a 2Bt resource, and guess what value the share market attributes to it today? $0. DSO on the other hand it still worth real money because you can dig it up and sell it to China for $135 a tonne, or whatever the spot price is at the moment.