No, not joking at all.
What do you think overburden is? Is it waste or not?
Do you think removing overburden is free? Has Cotton been moving dirt around for the last 20 months to get to the ore?
Look at all the pictures for the last 20 months...do you see big thick veins of iron ore? Lots more dirt than iron ore.
5-10 cents is for unproven reserves. A couple of drill holes is not a mine make. If Cotton had 20,000 meters of independent results, we can talk, but we all know how Cotton feels about drilling.
I could show you many examples of valuation in the ground, but the mods of this board will delete it instantly.
One company recently invested 200 million for 20%...reserves are a billion tons. Production will of 8 million tons a year will start in 2-3 years.
5 dollars is laughable for a 2 bit mine