market cap $8mil & cash of $13mil + iron ore

On the face of it looks like a decent spec buy.

Market Cap of $8mil & Cash of $13.38mil + a prospective 100% owned world class iron ore deposit in Peru which Xstrata bid US$500mil for back in the good ol' days.

The question is how long will management keep the Cash I guess?

Having said that, it may not be the worst spec buy out there at current levels and I'm in at 5.5c. If the boom times come back and this company by miracle can pull something off, there is the opportunity to make a lot of money I believe for anyone who has patience to hold. Long way from its heights of $3 in the good ol' days but like I said, a "potential" 10 bagger if things start turning around and going right for them.

Spec buy!