This is an interesting piece from an article from the...

This is an interesting piece from an article from the SMH

-----------------------------------------------------

Pluton has iron ore prospects off the West Australian coast which had earlier been explored by BHP and then owned by Portman Mining.

"I think the joint venture with Portman is a real coup - especially with Irvine Island in particular because of the BHP report which has surfaced," Mr Wong said. "No one knew about the existence of this report.

"The report basically concludes that surface sampling that BHP did in the early 70s that there is 700 million tonnes of iron ore grading at up to 62 per cent iron ore. However, this is just surface sampling which means they've only gone down to 13 metres."

Mr Wran, Mr Schoer and Mr Wong will each hold 3.4 million vendor shares in Pluton, worth $680,000 based on the issue price.

-----------------------------------------------------

interesting to note that the sampling only went down 13 meters, yet the directors claim 30 meters of mineralisation. How has this gone unnoticed for so long??