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There looks to be good upside over the next 12-18 months if the figures in the Veritas report are accurate. We will get a better idea when the pre feasibility report is released, but if they can achieve first production at the end of 2011/start of 2012, then a market cap of $100 million or more for an iron ore producer is certainly achieveable.

News in the next few months that might give the share price a further boost is the PFS, confirmation of taking up the Buena Vista project (still only an option at this stage), full feasibility report (towards end of December), and any success at Narracoota or Loonganna.