Fair enough, Hoov, and I also have some doubts about the metallurgy of the Magpie rock. There may well be difficulties in economic exploitation. The enormous potential is overwhelming, though, as was, & still is, the case with the ROF chromite.

Do you know if the technology currently being used by Argex might be applied to Magpie rock? I think the end product they want is titanium dioxide, but it does separate this from a titaniferous magnetite deposit at La Blache, close by.

I suspect they might be unwilling to licence this technology to a competitor, but some analogous crushing and leaching process seems likely to yield separate vanadium, chromite, titanium dioxide, and iron. Obviously capital intensive on any scale, but with good prices for end products.

Also, as with chromite, the price for iron ore is expected to rise over the next few years. Chromite prices at the time of the CLF/FWR business were low, but I and others correctly anticipated a rise in price, and supply problems from South Africa, particularly.

Currently iron ore demand is slack in the short term, but will rise exponentially over the coming decade, in my opinion.