650ktpa? That's significant, especially if it proves to be a premium iron ore product. What's more, it's in demand, and likely to increase in economic value to the project. Remember, magnetite is primarily mined as an iron ore, and although pure play magnetite miners have a higher cost ratio compared to hematite miners (more processing - which is already costed into the Vanadium production) you'll find that in the end it'll most likely save more to produce it than to report it to tailings, pre sale profit/loss. If it turns out that TMT are only able to make 58% iron Ore or less, than I'll gladly eat my words. Another thing though. By weight, Magentite is 72.6% iron, pure. Our whole rock Iron values aren't measured as Fe3O4, but as Fe, V, Ti, Al and Si. If the iron and vanadium alone get produced from the ore, our processing tailings stream would be well under 50% of ore mined.
TMT Price at posting:
72.5¢ Sentiment: Hold Disclosure: Held
