To: Valuepro who wrote (61557 ) 10/12/2008 7:20:48 AM From: E. Charters Read Replies (1) | Respond to of 78416 Because of that spate of sarcasoid observata, I feel I may left you with the impression that iron sands et al, are devoid of value, a hopeless dream of a scatterbrained child. Nothing could be further from the veritable. Despite steel's precipitous plunge in the last 6 months, and China admonishing Australians to stop iron shipment, with tons of iron ore languishing on the sinovian docks, we still believe that eventually the development of far off lands will create a substantial vacuum in resource extraction. Some pundits have pointed to the Olympics causing a construction wane, but I have some doubts about that factor. A few megatons of ferrous stuff might be good to harbinge down SA way. More expensive to get in production than many are led to believe. I worked in a 20,000 ton magnetite concentration plant and it cost 180 million in 1975 if it cost a dime. All they did was crush, grind, magnetically concentrate and float. Of ourse after that you have to pelletize in either a shaft or rotary oxidization furnace, which makes Fe2O3 pellets from Fe3O4 fines - as you cannot ship fines in any amount. Adams Mine, Griffiths mine, and the Sherman Mine in Ontario were such enterprises. All mined taconite magnetite ore at about 20% to 30% grade and the open pit mine operations were captive of steel companies in Ontario. In Wabush they mined higher grade, up to 58% iron, and the shipped pellets to Europe after gravity concentrating in spirals and magnetic upgrading, roasting. The Helen Mine in Wawa was a carbonate iron mine of up to 50% grade, which operated as an underground mine. Carbonate iron or siderite is what they call 'sweet smelter feed', and is very high priced in comparison to other ores. For that reason, they Helen could operate underground up until the mid 1980's. It was owned by Algoma Steel. ********************************************** Polar has the Chepica Mine, recently acquired and the Montezuma property, under geophysical explo. Polar Star has increased in price since August from 50 cents to 95 cents per share. ******************************************* Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. HudBay Minerals Inc. owns 3,860,605 shares of Polar Star (approximately 9.9% of the outstanding shares of the Company, as at July 8, 2008). On-going Induced Polarisation-Resistivity surveys along a belt some 6-7 kms wide covering the trace of the West Fissure Fault System and adjacent N-NNE trending splays and cross faults have detected several anomalies. The main anomaly, which is entirely covered either by a sulphate cap or pediment gravels is 1.2 – 1.6 kilometres wide, to date is over 12 kilometres long and extends to depths of 300-350 metres. It straddles the West Fault to the south but to the north follows two sub-parallel cross faults which trend NNE towards the copper bearing veins and stockworks. The Chépica Mine acquisition adjoins Polar Star’s wholly owned Corinto and Batuco claims. These claims plus the Chépica Mine property total 16,640 hectares in the Pencahue District, Region VII, Chile on which prior exploration by other companies has defined 15 high grade gold and copper-gold zones (see attached Talca Property map). The Chépica Mine is currently being commissioned to achieve a planned initial production of 200 tonnes per day increasing to over 500 tonnes per day by mid 2009. The Mine will produce a copper-gold concentrate. ************************************************