Ann: Iron Bear completes pilot pellet production run, page-39

Everybody knows something. They are not prepared to stump up to the next level. There has been a couple go through at 0.2, this is where someone has tried to meet the market and failed. There is two solid camps, 0.1 and 0.2. Neither is budging. Just a few weak hands. Should be an interesting AGM on Thursday.
They are showing the market that this is a great resource. It has volume and quality. The problem is that it will require a mega investment. At least $US15B, maybe up to $US25B. Thus we have a tiny unloved minnow having to woo one of 5 companies that could actually make the mine happen. Then it is a case of whether they mine or keep the resource in reserve.
The worst case is that we brought out. I don't think that we could be a takeover target given the shareholder matrix. That is unless TS capitulates. The second worse case is that they sell for a pittance and the buyer resource banks. I can't see this without a good royalty and a commitment to mine.

The risk we all hold is that the BOD hold fast and get a great deal. If they do so then we are all winners. All on red at the wheel.