Southdown Project, page-23

re southdown...

it's always intrigued me that grr didn't do it themselves ...

my humble understanding is:
(a) it's tough dirt. I recall a neighbour mine went broke trying to smash it up;
(b) it's a long way from port (hundred of kms...) not impossible, but expensive;
(c) when it was under serious consideration the pellet price had that distinctive crash look about it;

on the flip side, the jv partners were keen to get access to the higher grade material which was otherwise being sourced mainly from Brazil. my understanding is that that source is finite ... maybe high grade mines in Brazil are nearing exhaustion... it might pay to do some research down this burrow.

great result and excellent divi ... shame the market has no interest at all.

have a great day.