Not directly related to IOH, but interesting to see AGO picking...

Not directly related to IOH, but interesting to see AGO picking up a tenement from Gondwana (GDA) in the East Pilabara for a total consideration of $2.1 million plus an ongoing royalty of $1.13 p/t for any iron ore sold from the tenement.

To me this indicates that well positioned iron ore outfits like AGO are conducting business as usual in the current environment, and using the depressed state of the sector to build their resource inventory.

Hopefully IOH have unearthed a few diamonds in the rough out there from potentially distressed sellers and they can pick up a few really plum opportunities soon.