6922,
Nigeria is not known to host economic quantities of iron ore. If it were, there would be active iron ore mining going on there right now. The Nigerian government ceased iron ore operations years ago. What might this tell you?
The current drilling program EIO has going on is like seriously going to the local Newsagency and buying a Tatts ticket. I know many who hold this company in their own portfolios don't want to hear this but if you do your research you will find that the odds are stacked against EIO with regard to finding economic quantities of iron ore.
The project has been de-risked to TGP and related parties because they have used shareholders funds to carry out exploration.
Caveat Emptor
:)
Nic
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