Read itmd's summary in the stickies and look at reports and photos by many independent observers.
By late Dec 118k tons stockpiled, a stockpile growing everyday.
If they only shipped the amount now stockpiled they would have ca 25 million dollars.
Baja 14 geo report indicates no known sulfur and recent tests confirm sulfur is not an issue.
The iron has tested at 59-63% even before separation,and since 62% is prime and price rises or falls by a formula w reference to 62% benchmark, they could sell in this market without separation.
Any 2009 LOI is obsolete,as contracts are now 3 months,sometimes even monthly now,based on Spot-currently ca $177 and rising to predictions of $200-250 this year as per web news reports,considering loss of iron production in Australia(probably biggest China supplier),Brazil and India's export restrictions.
1-3mm fines are probably separated.
When the assembly line configuration is finished(which could be done-we don't have independent reports from the site everyday-no company does),the stockpiled ore will be loaded onto beginning of assembly line and loaded onto trucks at other end. I and pesquero and others have already reported how much could be trucked/day.
CWRN bought the port conveyor belts-Baja geo report indicated 48" wide 2000 tons/hour. The 3-18mm separator can process 32000 tons in two 16 hour days. Ore not already stockpiled can be crushed at 35k tons every 5 days. 35000 tons are initial expected Handymax shiploads(over 6 million revenue),though if enlarged terminal/dredging is finished,they could go directly to 75k Panamax ships-over 12 million revenue/ship.
The ore is reportedly(see previous posts)unloaded into a hopper (or alternatively a staging area) from where the machinery will automatically load it-either directly onto a ship now that dredging is presumably finished,or,if dredging is not finished, reportedly onto 10k ton barges(a process that one of the top 5 ports in the world uses because that port only has 7m depth- in China-see the port and barge pictures).
Pesquero showed photo of bulk carrier at birth w dredgers working around it, so 35k ton ships(average 33 feet draft) are not affected by dredging,only the 75k Panamax(draft up to ca 39 feet)so named because that is max draft that can negotiate Panama canal,though CWRN's ships will not go thru the canal.
Geo report indicates 88km (54.5 miles)to port ,same as my streets and trips program indicated,all on Baja's biggest most patrolled Hwy one,except for ca 5 mi secondary hwy shown in temuku and surrogateson etc photos,and short straight leg to port near entrance to Ensenada.
Although CWRN evidently has a specific contract specifying these iron sizes,there would be numerous buyers lined up to buy in this hot market,w net profit of 50%-not surprising when prices were only ca $28/ton seven years ago.
Bob has indicated at least one PR /month,a schedule they have been following. The dramatic pace of last 5 months could lend itself to many PR's /month but the company does not pump and is focused on production,w full production as of Nov 5-hence the stockpiles ready for final assembly line and trucking.
I have challenged people many times to show me a stock w better imminent promise and nobody has even attempted to do so.
Special interest groups -who make money from price drops -are always shouting dilution,scam and other extremely imaginative "the sky is falling" cries on EVERY stock they are shorting.
This company also has the best communication w stockholders I've ever seen and soon will have posted financials.
Would you rather they had continued to waste time and money posting irrelevant pre-production financials(which showed no info relative to production or revenues),or would you rather have production,as shown in many pictures by many independent observers???
Interesting- some people were the biggest "it cant be done" trumpets until they bought and began in their words pumping and once they made a huge profit on insider trading in collusion w their complaints to pinksheets began "it cant be done again" to push price down so they can buy and profit again.
The only thing strange is the usual games by special interest groups who profit from a price fall and since the stock was finally starting to reflect conditions on the ground they digged deeper into their bag of tricks.
