iron ore companies, page-27

Joelbady,

"200Mt is a bit small for magnetite."

I agree. But:

- its one of a few Fe projects
- its next door to MGX
- its next door to an identical deposit that was sold last yr to Chinese for $40mn and Fe prices up 50%+ since

and mainly
- mkt cap of company is only $22mn

So, if they sell for $50mn (i think $60mn+, but lets be conservative), then that 1 project alone would give co 50cents in cast (as ~100mn shares)

So, would have $0.50 in cool hard CASH, another Fe project next to PLS grading 65%FE, 2% Vanadium!

All up, not bad for a $22mn co.

Ditto your comments on KB too.

I will look closely on TRY too! Are they your prefered FE pick?

Cheers!