pst

pst spoke to frank demarte friday and asked him his thoughts on gordon toll and his involvement with cmr he said toll lost a lot of money on his dealings with cmr now all his focus is getting royal up and running frank also said toll is pretty decent bloke he has just got back from his overseas trip to europe and asia regarding new investors offtake agreements and other business they are having a board meeting next week to discuss i would say what toll brought back to the table, regarding iron ore a lot of the stuff that is being mined is low grade hence the need for high grade manetite frank told me the cost to produce atonne of ore is around forty dollars per tonne with the iron ore price say at fifty dollars per ton and magnetite with a premium of 30 to 40 dollars per tonne that looks to me a pretty healthy margin per tonne all it needs now is investors with deep pockets probably i would think asian money, i wouldnt think offtake agreements would be a proplem this is not a ramp dyor