The interesting thing about about the news article on the swing back to junior iron ore explorers/miners from a Gondwana shareholders perspective is that it mentions BC Iron which I researched a while back.
BC Iron, is north of fmg's cloudbreak project in the Pilbara.
Gondwana's Corruna iron-ore prospect is between BC Iron and Marble Bar in the eastern Pilbara. BCI's share price has ranged between 60c and about $1.80 and closed today at $1.61.
Gondwana's Corunna downs is 50km north of Nullagine where BC Iron have their tenements. BC Iron is 65km by road north of fortescue's cloud break operations ( refer BCI asx ann' 10 dec 07 "New Iron Ore Discovery" . BC Iron has a non binding MOU agreement with FMG.
There is a big difference in current share price buy in cost to BCI and GDA which reflects there has been no announcements yet on GDA's iron ore at Corunna Downs prospect.
PS, BCI has discovered haematite iron ore at Nullagine.
There is I believe good reason for the increased interest and volume in GDA Friday and today.
The 24 samples recently collected are being tested for all potential minerals inc' iron-ore. Two weeks is not an unreasonable time to wait for the results.
If the samples indicate iron-ore, GDA management should be contacted by all share holders to encourage them to fast track further exploration and to commence discussions with FMG and / or BCI to explore future options relating to transport ( refer BC Iron announcement dated 6 july 07).
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