1 billion tonnes iron ore at combined 66 pc, page-21

Just had a look at the Latest Aurox Presentation..... you made my day....

http://aspect.comsec.com.au/asxdata/20070906/pdf/00756882.pdf

A quick comparison.....

AXO have a market cap of approx $245M. (about $83M cash). MXR have a cap of about $22M (about $14M cash and ERO shares)

AXO have an Inferred Resources (11km strike – drilled to 80 metres) 200Mt @ 43% Fe, 0.63% V2O5, 14% TiO2. MXR estimated at 160 to 200 million tonnes (to 40 metres) @ 54% Fe, 1.2% V205 and 13% TiO2.

AXO have a Current ore to waste strip ratio Y1 to Y5 = 1:1, Life of Mine 1:2.6. MXR will have no waste ore!!!! Same as PMA ( http://www.pmal.com.au/aurora/assets/user_content/Media/PMA_Web.mpg )

AXO have no other commodities.... No Gold, No Uranium, No Uranium Free Carry, No Talc Royalties, No Nickel......

So, summary...... (potential) much bigger find, better Fe Grades (54% vs 43%), better V205 grades (1.2% vs 0.63%), bigger resource target (same resource target 40m depth compared to 80m depth), MXR have no waste ore, and AXO have no other assets or commodities....

Market cap $22M vs $245M ($175M if you take away $70M more cash than MXR)....

Can you say 10 bagger (20 bagger maybe)...

This just gets better and better..... Comments welcome...