next leg up, page-6

Chinese? There's a good chance it might be Korean or Japanese. If they can get a deal, I think end of the month is more likely (although there's a chance that commissioning of the ITMK3 at Mesabi might delay this).

If they get a deal, I'm expecting SP to 40c+ within a week.

I'm not expecting any Heamatite drilling results until Q2. March may be too soon by the time they develop a program, contract a drill rig, drill the holes and analyse the samples.

As for the 572 million tons of magnetite, that will stay in the ground for a long time unless the ITMK3 plant is built. As a magnetite deposit, it's not particularly attractive (in terms of size and transport infrastructure) on it's own.