iron ore resource estimate in nigeria, page-29

Nic
So what if it is the same ground. There is nothing i can find that suggests that Black fire ever took a soil sample or drilled a hole, there targeted tonnages were a starting point. Why would you take on a project and not under take a exploration program. My investigations suggest that due to the GFC they could not raise the funds to finance the project. It also states that when Black Fire withdrew from the project, they would like to thank Mr Whitly for all his input and help.
Nic,I think we can thank the GFC for giving EIO the opportunity to get hold of potentally a very exciting project