cheap iron ore stock

Just found this iron ore stock with alot going for it. Power roads and train lines run through thier tennaments. 50million shares for a market cap of $10million with the top 20 holding 73% of the shares.

The Yalgoo Iron Project concept envisages mining 2.4Mtpa of magnetite iron ore from the Yogi deposit 14km east of Yalgoo in the mid west region of Western Australia. The magnetite ore would be crushed and fed into a beneficiation plant located at the mine site to produce around 770,000tpa of magnetite concentrate grading between 65 - 68% Fe.