an interesting fact, page-30

I agree that the grades are the least of our problems, as I have said in past posts.

My only concern was the backdoor entry seemingly endorsed by the management on the 30th June ....

In hindsight, I think management had to endorse the deal to keep faith with the Chinese, as their capital injection and interest in the Co. will be long term beneficial .....

I'd guess that management knew that the shareholders would not pass the original 34% deal, so the subsequent deal kept everybody reasonably agreeable.

All that aside, the recent Chairmans address at the AGM had some very positive information which should not be overlooked.

QUOTE:
"Results to date from beneficiation testwork are encouraging, especially the production of a premium grade, high purity DSO grade iron ore product which has demonstrated that we may be pleasantly surprised by the potential for our Spearhole Deposit to supply both niche markets and to be a blend into the typical suite of Pilbara iron ores."

NB: The comments on "Premium Grade High Purity", and "Pleasantly Surprised" .... "Niche Markets"

I don't think we need to worry too much about grades!!


QUOTE:
"Your Company is maintaining its aggressive exploration projects and is in the process of strengthening its management structure."

NB: This has been done.

QUOTE:
"The lessons we have learnt during 2010 tell us that
whilst we must focus on expanding our iron ore assets, our shareholders and other investors must be kept abreast of progress and fully understand how remarkably successful your company really is."

NB: "Remarkably Successful" ..... That is a very bullish remark from the Chairman.

QUOTE:
"Your Company recently announced that Dynasty will significantly increase exploration of its highly prospective iron ore tenements in the Pilbara, Western Australia and I am confident that this exciting 2011 program will materially increase the companies iron ore resources."

NB: "Confident ... Materially Increase Resources"


Bottom line ....
They are confident on the grades they can achieve and confident they will increase the Resource substantially!

If this one only has a market cap of 20 odd million in 12 months from now, I'll be as surprised as anyone.

ps My Sentiment is now BUY as the last 2 days price action indicates sellers are withdrawing.