Lion, When I look at the share register year by year and follow...

Lion,
When I look at the share register year by year and follow the increases in holdings all I can say is the astute investers are buying without pushing up the price.

Here are a few more magnetite facts from Hotrock 1
See if you can absorb them !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I must be very intelligent because I use exclamation marks.

how to roughly calculate the required tonnes of input ore to generate a tonne of concentrate.
e.g. I have a magnetite resource at 18.6% Fe, the processing only gets 70% recovery and the output grade is 67%.
so is it just
67%/(18.6% x 0.7) = 5.15 tonnes?

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0	Column 1 0 17/05/13 23:51				Column 1 0 (0)

| |[/table]

	Column 1
0	Hotrock1 Post #: 870 In Reply to msg: #862 IP: 1.127.xxx.xxx Sentiment: None Disclosure: No Stock Held Views: 9

|

Column 1

0

The number I got from a production mining stance is the same as yours to 2 decimal points.How big is your resource and how deep is it?At the current the variable CFR prices (on 62% prices ~ $US130/tonne)you would need to produce at circa $USD 75/tonne for a viable operation.Given the Capex required for your grade, you would need a resource of greater than 700mill tonne for a viable proposition ... but that's my opinion. Key Factors for viability are:1. Mine distance to road/rail transport2. Power supply3. Water supply4. Isolation..do you need to build a camp site 5. Necessity for FIFO labour6. OPEX7. Payback period and LOM (life of mine)8. Off take partners for Capex offsetYour total FOB costs should be around $75AUS/per tonne ..a declining AUS dollar should help your cause greatly.The demand for high grade magnetite will have preference over a lower grade Hematite product internationally ..especially a pellet product. Grange resources is the only pellet producer in Oz but their compression index is too low for high demand...they need to put more bentonite, or another binder...as a simple solution, into their pellet mix..once again, my opinion only, not knowing their limitations in their production process.Would love to know more on your resource if you care to share commercially.If you have a significant resource then you should do something about it. There are buyers out there!CheersHRHope that helps.. no advice given or intended .. you asked for an opinion ..you've got mine .. simplistic as it is, given the detail.

[/table]