a possible monster in the making???

Hi all

I just thought I would share this,especially for you Jaclyn as a starting point to DYOR. It is from eio's website:

Option Over Iron Ore Licences In Nigeria
HIGHLIGHTS
?The Directors of Energio Ltd ( ASX:EIO ) are pleased to announce that the Company has entered into a Put and Call Option Deed with TGP Australia Ltd ( TGP ) , to acquire 100 per cent of KCM Holdings Pty Ltd ( KCMH ) from TGP.
?KCMH is the holding company of KCM Mining Ltd (incorporated in Nigeria) which owns a package of recently granted exploration licenses covering iron deposits in Kogi State, Nigeria. It holds 70% of KCM Mining Ltd which own the iron ore tenements. KCMH also has the right to acquire 100% of KEF Projects Ltd (incorporated in Nigeria) which has applied for the grant of further iron ore tenements in Nigeria.
?The licences contain magnetite in BIF and iron rich oolitic deposits with an exploration target of 1 billion ? 2 billion tonnes of potential iron mineralisation grading a minimum of 30% Fe. The potential quantity and grade is conceptual in nature at this stage as there has been insufficient exploration to define a Mineral Resource under the JORC Code.
?The proximity of the licences to existing rail, road and power infrastructure provides potential advantages in reduced capital expenditure and allows fast track project development.
?As part of the transaction EIO will extend a loan to KCMH of $800,000. These funds will allow an exploration drilling program to commence in early 2011.
?The directors of EIO have invited Dr Ian Burston, Mr Don Carroll and Mr Kevin Joseph, current directors of TGP, to join the EIO Board.


PGamble

P.S If you read the whole ann and look at the pics and maps you will have a clear idea of infrastructure and location.
Also do some research on the directors, these guys play in the big league
With the response to the asx speeding ticket it is clear this is all but a done deal (though nothing in life is certain) the 100 mil shares traded today would further indicate the deal is most probably done. Happy researching to you :)