eastern iron, page-15

Tokyo

Not sure if you sure SDL today, but that went up 10c.

Now when you consider that SDL has almost 2 BILLION shares on issue, a 10c increase in its SP increases its market cap by $200 million. Which is absolutely STUPID.

But it sort of puts the rise in EFE into perspective...ie that there is an iron ore boom going on and no company involved in iron ore, whether quality or not, will miss out (unless very unlucky!).

I would like to say its due to the quality of the company and its management (and it is top notch)...but no doubt part of the current rise is due to being in the right sector at the right time. Did a bit of undercover snooping today and found out the brokers involved in the trading since listing today, and sure enough some of the 'DISCO' brokers (as my broker calls the discount brokers such as etrade) were buyers, so obviously some traders in it.

The good news is that quality will shine through whether there is a boom going or not, so we have little to worry about imo long term as long as the management can deliver what its trying to deliver...no doubt there is risk involved, the management have been very open about that...but if it comes off then we are going to make a LOT of money.

Cdchi1