"Talks with Rio, BHP and Fortescue are continuing."
Now that is what the market likes to hear.
No doubt they can get the resource up over 1Bt it's just a question of how long it will take them with ongoing drilling at Bungaroo and they haven't even scratched the surface at Mesa J & Snake Valley. Throw in another hundred or so from the various targets at the central hub and 1Bt will be a doddle.
Surprised that $10 million may only last until June 2011 but I guess aggressive drilling across multiple targets comes at a price and it's worth it.
IOH Price at posting:
$2.08 Sentiment: Hold Disclosure: Held
