Member Info for 944Turbo

Have you thought about answering my question Chris.

944T

Hi Max good to get something at last with the rest to follow. Was amazed how people suddenly jumped on the grading not being fully aware of what the DSO needed to be thinking it should all be over 60% which is the premium stuff.

I think we may see some results coming through from Capstone soon been just over 9 weeks since they started and I don't think the assay office have the problem like Aus with everyone wanting them. Fingers crossed.

944t

Chris I’m still waiting for the names .

944T

Direct Shipping - Direct shipping ores are transported as mined or possibly after screening. Direct shipping ores are generally hematite, magnetite, or goethite. There are many grades of direct shipping ores, including lump ores usually crushed to 20 - 30 mm and sinter fines with a maximum grain size of 6 - 10 mm. The prices of direct shipping ores are often related to the historical Mesabi standard of 51.5 percent iron.

The premium is paid on ore over 60%.

944T

So just to help some of the posters regarding DSO and what percentage of iron is required to make it DSO.

Direct Shipping - Direct shipping ores are transported as mined or possibly after screening. Direct shipping ores are generally hematite, magnetite, or goethite. There are many grades of direct shipping ores, including lump ores usually crushed to 20 - 30 mm and sinter fines with a maximum grain size of 6 - 10 mm. The prices of direct shipping ores are often related to the historical Mesabi standard of 51.5 percent iron.

Any thing over 60percent carry’s a premium. Hope this helps and gives a little more clarity to the drill results.

944T

At last LOL

So overall very encouraging news identifying the DSO and a certain percentage of the premium grade DSO also identifies that the original identified area is now bigger than expected so the metric tonnage will increase. More assay results during the month will certainly help in finding the extent and quality of the ore body. He just need to keep trickling in those results during the month . All very positive I think.

944T

Looks like we are the only guys still up Miller lol time for bed stay safe people. I feel a little less frustrated after my digging to night lol. Amazing what you can find lol night people,

944T

Hi Miller I have to say after reading that I have to look at totally different if you upscaled it due to the volume we hold so let’s just double what Fenix are producing and you could be up at $200M profit a year .

944T

The main points.
Fenix Resources (FEX) has opened strong on the ASX today after releasing its first quarterly financial report as a bona fide WA iron ore producer
The company shipped its first iron ore product from its flagship Iron Ridge Project in February
Following this, Fenix dispatched three more shipments from the Port of Geraldton to ship a total of 220,000 tonnes of iron ore product over the quarter
The ore was shipped at an average price of US$156 (around A$202) per tonne with cash costs of around $93.20 per wet metric tonne shipped
The result was $21.8 million in net positive cashflow for Fenix over the quarter — taking Fenix's cash position to $26.7 million as of March 31 and no debt
Shares in Fenix Resources are trading just over 8 per cent higher this morning at 32 cents each That’s around 20p working on 1 aus dollar being 56p.

944T

Sorry had to change the header lol I’m on a role now. This makes very very interesting reading following the last few exchanges between Max and myself . Please see below an up date from the a posting regarding Fenix on the 31st March and payment for the shipping of the first 220 000 of DSO and cost. Needless to say there share price just based on the DSO was 32cents which I recon is around 20p.

https://themarketherald.com.au/fenix-resources-asxfex-posts-sturdy-first-quarterly-report-since-maiden-iron-ridge-shipment-2021-04-23/

944T

Hi Max after doing a little digging this is the deal they have in place and just like I thought they have a signed deal to buy all of their material with the Chinese.

This would also be a game changing deal.

https://www.resourcesrisingstars.com.au/news-article/fenix-signs-iron-ore-sale-deal-sinosteel

Hi Max thanks for confirming that sound much better lol I went on the Fenix site and read there page and yes they set a JV with the haulage company.

If this was a way we looked at things then I would still like to see a deal with and end user/ buyer who would stump up upfront cash to put things in place, otherwise where would the cash come from, tailings would raise enough and a placement wouldn’t hence my comments on a partner.

944T

Paul my CEO has a saying.

Turn over is vanity
Profit is sanity
Cash is king

3 simple things he swears by and in my eyes very much the truth.

If anyone want the link to the Fenix site is here you are.

http://fenixresources-com-au.stackstaging.com/iron-ridge/

944T

Hi Paul you need to add in the processing cost and the percentage we will pay the present owners. So probably 50% of that but $4M not to be sniffed at regarding funding.

944T

Sorry for what ever reason my post went in after one word.

Max I’m sorry but I have to totally disagree with you regarding Fenix 1 excavator and 3 wagons moving material I’d I’m sorry a tin pot set up. From someone who works within the construction industry and has done may bulk excavation believe me.

The fenix set up is around 47 klm from a town and the main road it is the 490 klm from the DSO shipping port approximately 345 mile. You do not shift 7million tons of DSO 345 miles by road yes they may make money but I struggle to see how this really adds up.

We are 40klm from BHP railway line and around 100klm from Rio .

If we have anything around 200million tons you will never convince me that .

1 UFO could do it on their own
2 transport it by road hundreds of miles is the way to go.

This volume needs the massive input of the big boys who have the kit and the logistics to move it and the cash to back it.

944T

M

Smiller I’m sure you are right there is no way the big boys would pass up 200M plus tons BHP rail link is 40 klm away you just drive it to there an put it in the train .
One other massive option is that the Chinese do a direct deal with UFO with massive upfront payment I’m sure they have just done this with someone but the name slips me. I’m sure someone will say who but yes a massive re rate would be due. The proactive post was interesting because they say about a resource estimate in 6 months ? Never herd that before. That’s not a dig by the way I haven’t and I’ve not heard Bill say in his interviews.


944T

HI Miller and AWP I think it is very difficult to compare Fenix with the possible Han**** and Brockman range we are talking the possible difference between 7M tons and up to 240 Million tons. Fenix are doing it their selves and making good money but this is a totally different animal. This is something that needs proper kit and lots of it along with a possible rail link. UFO have no where near the funding to achieve this. This is a JV all day long.

If we said we were going to do it and gave an EMR it would certainly have some effect on the SP but the money back into the company would take much longer and possibly hamper other areas we were looking to grow due to it soaking up the cash.

If we announced an EMR and a JV the SP I believe would react far better, I also believe it would give us a major cash flow into the business much quicker due to the amount of material the big boys would shift with a possibly some cash up front as part of the deal.

To me in trying to compare the 2 finds is like One is the guy in the states like Texas with an oil pump on his land and the other is Shell Oil.

Just my thoughts of course but I'm sure I posted about this some time ago, in fact I think it may have been me who posted the original Fenix post.

Max/Bill has been very quite today lets hope he's pulled a deal together LOL

944T

I think people are becoming frustrated, me included with the lack of news.

Problem is I am now dammed if I do and dammed if I don't, holding such a large number of shares,

You can bet your life if I pulled them news would follow and the SP rise so I'm riding it out because 1p is massive finically so I sit and wait and after being here for nearly 12 month.

My Issue is Bill should be careful regarding statements he makes regarding dates and and timings, Share holders grip to these like limpets waiting for the date to arrive.

We have recently seen new buyers arrive and a 9M holder leave yesterday for what reason we do nor know. I dont think anyone pull nearly 100k of money knowing what is to come unless you need it.

We all know what's to come and it could be life changing for me certainly and I'm sure for other .

I am a very patient guy but because of what I do I expect people to deliver when they tell me something and not tell me what I want to hear because this helps no one.

I've commented before where I think we could end up and said there will be bumps along the way.

All of or commodities are wanted globally we people paying over the odds to buy them.

I don't want to see this drop back below the 1p line I don't believe that would help at all so I hope Bill is looking to pull the rabbit out the bag soon with meaningful news because otherwise the news will have the same effect than we have seen before pushing the SP down.

Everyone wants this share to grow and there are some great posts put on here by people who do care, ignore the trolls and derampers, Who knows what's going on in the back ground but time will tell its just how much time.

944T

Miller you are so right it’s up and down and almost impossible to follow. Max were you sweating a little lol to let out a YES lol.

Deanok you make a very good point if they are that good and I have no reason to think otherwise based on comments, tweets etc there could be 3rd party negotiations going on which the other party do not want to let on in case of counter offers who knows.

944T