Replies to post #2069 on Tonogold Resources Inc (TNGL)

[surebob]

Metal Bulletin Iron Ore Index slumps to $91.17
Spot 62% Fe iron ore prices dived on Thursday June 12 amid credit constraints and bearish sentiment.

Metal Bulletin's Iron Ore Index for 62% Fe material fell by $2.85 to $91.17 per tonne cfr Qingdao.

Buyers of iron ore have struggled to find funding for iron ore transactions following the probe into warehousing receipts at Qingdao port, according to a Beijing-based trader.

Australia’s Fortescue Metals Group has agreed on larger discounts on index prices with Chinese customers for June deliveries.

Overall, tumbling prices and slack demand have seen Australian steelmaking raw material producers scrambling to cut costs and protect their margins.

Metal Bulletin's daily iron ore index for 58% Fe material fell by $0.23 to $70.10 per tonne cfr Qingdao, while the 58% Fe high-grade premium fell by $1 to $4 per tonne cfr.


less 18% for impurities. Is that good enough?
never invested in CWRN, never have, never will. I have proven the board that they were wrong so many times.
Just proving you wrong on the math and what you seem to repeat dozens of times as "stated facts" on the power point.
At this point, the mine is losing money. At this point, the buyers will be asking for a lower price than spot...that is a guarantee and operation could be stopped

[surebob]

The Miller iron ore mine is currently one of the largest and among the lowest cost iron ore mines in the world

How can you say that when there is no 43-101 or a feasibility completed? Many mines say the same thing all over the world.


Our iron ore is currently being transported by truck to Guaymas along a sealed highway that goes directly from our mine to the port. In the future the ore will be sent by train

How is the ore getting to the mill next to the train from the mine?
Is it being beamed there from Scotty?

CWRN said the same thing along with 73 drill holes ( albeit drilled on 10 to 20 feet for each hole). Pumpers said there are billions of tons in ground. What happened? Arcelor Mittal looked at the nearby property and walked away to build a mine in the Arctic that cost billions

[surebob]

Mil-ler made three shipments to China during 2013, totaling 80,000 WMT of Iron Ore at an average grade of 57% Fe, and received about $100 per tonne (gross). Costs of around $61/t include mining, processing, road transport to the Port of Guaymas, port fees and cost of shipping to China.

There is no way in the world that shipping cost were 20 per ton based on 3 shipments totaling 80,000 tons as stated on their website. Handymax ships or smaller is north of 30-35 per ton.
Even Panamax ships of 75,000 is 22 to 25 per ton