image holds 15.5% of magnetic resourses

Image shareholders now own 15.5% of Magnetic Resourses who have just announced it is to drill out the Jubuk iron ore deposit next week.There are 5 targets covering 70km of potential iron formations 15km from Rail infrastructure in the wheet belt area near Corrigin W.A. MAGNETIC share price has risen from 10c to 27 c in the last few months.Magnetic carried out a aeromagnetic survey over the Jubuck area recently and several new targets were located.This will be a hugh bonus for Image shareholders if this proves to be a new Iron Ore provence.