re comments, page-13

Hi Rich8

The ferret I believe, is a research group, or person, I am not sure, who recommeds stocks on daily basis and can be found at InvestrWeb or National Online Trading, not sure who else, but you have to be a client of either, to have access The following, is today's recommedation, as an example, hope this will help, mate:


Ferret's Stock to Watch: STRIKE RESOURCES LIMITED
09:37, Tuesday, 27 May 2008

PILBARA EXPLORER PRODUCES IMPRESSIVE IRON GRADES OF 64.7pc FE

Sydney - Tuesday - May 27: (RWE Aust Business News)
***************************************************

OVERVIEW
********

Shares of Strike Resources Ltd (ASX:SRK) received a boost from
the company's latest report on its latest exploration progress.
It announced high iron grades averaging 64.7pc Fe and confirms
the potential of the Paulsens East project
This is only part of the company's diversified international
minerals activities.
However, it's still early days yet as the results came from a
recently conducted rock chip sampling program within its 75 per
cent-owned Paulsens East project tenements, located approximately 140
kilometres west of Tom Price in the Pilbara region of Western Australia.
Highlights included:
* Average iron grade of 64.7pc Fe from 55 rock chip samples
collected from the Paulsens East project in April;
* Highest returned grade of 67.67pc Fe;
* 3,000-metre RC drilling program scheduled to commence in May to
determine the grade and extent of mineralisation and delineate a resource
for mining;
* Consulting Engineering Group to be engaged shortly to conduct a
scoping study for the development of mining operations and transportation
of ore by road to a regional port;
* High-grade nature of ore supports a potential DSO lump and fine
product capitalising on high prices for premium-grade iron ore; and
* Subject to satisfactory completion of drilling and scoping
study, Strike is targeting a one million tonne-per-annum mining operation
from the Paulsens East project commencing as early as February 2009.
Paulsens East project tenements cover a total area of 19.64
square kilometres.
The company has recently completed a rock chip sampling program
along the length of the hematite ridge.
Surface samples were collected at 50 metre intervals and returned
an average iron grade of 64.7pc Fe, with one sample returning 67.67pc Fe.
The closed spaced sampling program was undertaken to further
delineate the high grade mineralisation present along the ridge and to
assist in the outline of a proposed drilling program to support a mining
operation from such area.
Previous exploratory drilling results completed in December 2006
returned high-grade intersections in areas averaging 65.15pc Fe from 14
to 16 metres and 63.4pc Fe from 18 to 22 metres.
As a follow-up to the initial drilling campaign and the success
of the recently completed rock chip sampling program, the company has
announced it will shortly begin a 3,000 metre RC drilling campaign.
This drilling program, which is scheduled to commence before the
end of the month, will focus on delineating the extent of mineralisation
and the grade of the iron ore deposit.
The program will involve drilling 60 to 80 near horizontal holes
over the length of the 3,000 metre outcrop.
The company is encouraged by these early exploration results and
based on it now having sufficient confidence in the Paulsens East project
has undertaken the following:
* Engaged a project manager to lead the development of this
project to production;
* Commenced environmental and heritage studies to obtain the
grant of a mining lease for the project; and
* Engage a consulting engineering group to conduct a scoping
study to support a one million tonne-per-annum mining operation.

SHARE PRICE MOVEMENTS
*********************

Shares of Strike Resources yesterday rose 9c to $2.73. Rolling
high for the year is $3.10 and low $1.16. The company has 100.1 million
shares on issue with a market cap of $273.3 million.
The company has announced the completion of a $32 million share
placement to Australian, UK and US-based institutional and professional
clients of BBY Ltd through the issue of 13.051 million shares at an issue
price of $2.45.
BBY has advised the company that the issue was heavily
over-subscribed, with strong domestic and international support being
received.
The company points out that there is now a growing number of
significant institutional investors on its share register, which support
Strike and its operations.
Placement funds will be used to further develop the company's
Peruvian iron ore projects.
The issue was made under the company's existing 15 per cent
placement capacity, without the need for shareholder approval.
The company expected to allot these shares this month.

BACKGROUND
**********

Strike Resources Ltd (formerly Fast Scout Ltd) was listed on the
ASX on March 7, 2000.
It is an Australian-based mineral exploration and development
company with a diversified asset portfolio including hematite and
magnetite iron ore projects in Peru, hematite and minerals sands projects
in Australia and a thermal coal project in Indonesia.
Strike is rapidly accelerating the development of its Peruvian
iron ore assets to take advantage of skyrocketing demand from steel mills
around the world and is set to join the ranks of the world's iron ore
producers in 2009 when production commences at its Cuzco project in Peru.
ENDS