massive close..., page-12

Am anticipating a run up to 2-2.5c prior to news due to speculators only.

The real windfall will come when the resource estimates are provided on the geologists survey report sometime over the next two weeks (as previously announced).

From my understanding, they should be close to finishing data entry. With the trading volume today, there is the distinct possibility that good news could be seaping out into the market.

If any report comes up with any decent sized tonnages and Fe%, those that are on the sidelines will be paying substantially higher sp entry prices during pre-open.

Personally I'm anticipating a conservative resource estimate (based on Indian Fe ore averages and CFR acreage) of 400million tonnes at 55-60%Fe with high volume surface ore. This should see CFR open at 15-20c. If any report shows HIGHER tonneage/grade data...well...I've calculated 40c so I'll stick with it.

Current large cap Australian Iron Ore producers (you know the ones) will have no choice but do take an agressive stake in these.



Go the Elephant!