The one ironore junior that i have been buying lately is DMM. DMM have recently released a 33mt 55-58% haemitite JORC for their flagship Mayoko iron ore project.
They have an estimate for a further 130mt of haemitite and 800mt of magnetite.
ie, a very very solid resource base.
Chairman and major shareholder with around 20% of the company is David Sumich. I like companys where SH intersts are proportionally aligned to mngmt, and this is clearly the case in this instance.
Another major shareholder is Passport Capital. They are a San Fransisco based US hedge fund with billions under management. How many juniors do you know with US hedge funds on the registry whilling to take placements at whatever price. They bought their shares at market up to $1 (30% discount to current SP and we now have a JORC).
http://www.passportcapital.com/
As per last announcement, Scoping Study due out anytime this month. I expect a major rerating to over $1.80 - $2.20+ by July. I would expect roadshows - domestic and international - to follow once the Scoping study is out. They always do.
