CFE sold their 1.6bt mag project for $400m , giving an IGV of 25c/t. So 1bt at 25c/t gives a potential value of $250m, current market cap about $10m. Obviously CFE's was JORC'd and this is just a target but gives an idea.
I also saw Steve's post last week and had a read about this but thought "nah, I've got enough IO exposure"........doh!!
Good luck to holders.
investor briefing 1 billion tonne pilbara iron, page-23
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