KaiserSoze Monday, 03/31/14 12:48:43 PM Re: LGL8054 post# 104 Post # of 152 If you look at their Web Site under procurement portal, you will see that many contracts have been recently awarded for the construction of the mine. If financing was still a hurddle, I don't think they would be taking the chance of awarding contracts. The financing must be a done deal and the construction will start in the next month or so. At this point, the project is substantially derisked. Their anticipated all-in cost per ton is $70. Spot price of iron ore is expected to stabilize at $120 to $130 per ton. At 8 miilion tonnes per year at $120/ton, we are looking at $300mmm to $400mm of annual cash flow. Very undervalued at this price. I expect this to be a 10 bagger within the next couple of years. Once financing is officially announced, this should be trading north of $4 a share. Once this goes into production, it should be trading north of $10 a share.