Ann: Iron Valley Project - Construction Commences, page-9

re: Ann: Iron Valley Project - Construction C... I don't want to get my hopes up, but it looks like finally our ship is ready to set sail. Macquarie agrees, and has re-iterated their buy today:

Macquarie rates IOH as Outperform (1) -
Iron Ore Holdings reported a lesser first half loss than the broker expected, on reduced exploration expense and an asset sale. IOH will become a quasi producer in 2014 through its mine gate deal with Mineral Resources ((MIN)) and the Buckland feasibility study is due mid-year.

Buckland could make IOH a significant producer in its own right but funding needs to be secured, the broker notes. Outperform and $1.60 target retained.

Target price is $1.60 Current Price is $0.97 Difference: $0.63