While asking yourself the question...................ponder this!! If you look back on cuSteel and follow the seaborne price of iron ore the last 90 days you will see an interesting trend. Remember back in the early days it was a really important factor that Cehegin contains 65% plus grade iron ore. The reason it was important was 65+ % IO brings a premium price and at that time it was $10 a ton. Well if you look back on Feb, 26, 2021 65% IO was bringing a whopping $23 premium. Since then that premium has widened even further and as of yesterday the premium for 65% IO sat at just over $40 a ton.
As stated in earlier posts, high grade iron will continue to be in high demand in the coming years especially in Central Europe as they consume approx 18% of the worlds iron ore production and their standards are much higher than the other large consumer of IO.
The historic data at Cehegin shows 65% plus in the resource and the visuals of the first 6 drill holes point to high grade ore as well.
Also...........for those of you that "can read", an update of the next 6 drill holes will come in early June , according to........the boss.............
If you can't sell this story.....................
GLTYOU
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