RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Textmont distraction Representing very low costs due to the assumption of byproduct credits is a huge hole in this project. The PEA assumes that a third party will build a colacated steel mill, and that the iron ore can therefore be realized at over $200 per tonne.
I'm sorry but the current price of iron is less than half that. Why would a third party pony up the additional capex with this pie in the sky pricing asumption?
What is the C1 cost if realization of the iron byproduct involves transportation of the material to an already existing mill? A lot closer to the gross $4.54/lb than the net $1.09/lb, that's for sure.
But hey, there are dozens of properties here. It's going to easily be a multiple of Dumont, which totally doesn't suffer from similar metallurgical complications. After all, Selby has an impeccable track record of delivering shareholder value.