eio in the australian , page-3

Here is the one from the afr. It's about TGS but there is a section on EIO

"Tiger shaping up as another Discovery"

Energio
China seems to have its sights set on copper and precious metals all over the globe but there are plenty betting its appetite for iron ore will remain relatively robust despite the current downturn.

Luckily for one Africa-focused iron ore explorer it can hitch a ride on a different industrialisation train that’s even closer to its home in Nigeria.

Energio impressed the market with its maiden 488 million tonne resource statement last week and its shares have run in response.

BlueSky highlighted earlier this year that the iron ore explorer has plans to export about 20 million tonnes a year through an existing port and rail system or to eventually go to a deep water port off the coast of Benin or Togo.

Cannacord rates Energio’s Agbaja project one of Africa’s best undeveloped iron ore plays, given the impressive scale and its high grades (around 44 per cent iron) compared to other African projects where ores need to be beneficiated.

Agbaja’s proximity to latent infrastructure capacity that the government of Nigeria has the firepower to develop and expand also impressed analysts during a recent site visit for the investment community. Nigeria is keen to support the development of its own steel industry after international players dumped plans to re-fire an existing blast furnace. Africa’s steel demand is expected to continue to grow along with the continent’s demand for other raw materials.

While Burston, who flicked Cape Lambert-spin off African Iron on to South Africa’s Exxaro earlier this year for a tidy $338 million, is undoubtedly a good dealer, he is also a solidly credentialled mine project developer having spent plenty of years at Hamersley Iron.