snapshot of announcement

"From this base our intention is to aggressively explore other iron ore deposits on our project
leases targeting both a doubling of production and reserves within twelve months of shipping
our first ore to China" Kiernan added.

Exploration
An exploration program of 25,000 metres of RC Drilling has been committed for the 2007
calendar year. It is the Company's intention to significantly boost this drilling program to
increase mine life beyond the current five years and target annual production increase to 3.0
mtpa.


if that isn't encouraging I don't know what is!

at 3mtpa we would have earnings in the 100's of millions per year - even at a conservative P/E of 4 or 5 TFE is ridiculously undervalued

good luck to all holders