* good quarterly report as the new company after the merger.* it...

* good quarterly report as the new company after the merger.

* it has developed dual strategies for iron ore projects:

[1] Domestic iron strategy mainly consists of Itambe , Passabem and Cenibra iron project [Cenibra is the new iron ore project to be farmed in /acquired after the merger] to produce 3 mtpa grading +63% Fe by the end of 2013.

[2] Export market strategy consists of Rio Pardo, Itamarandiba, Guanhaes, Serra de Bicho iron ore projects and to acquire project by 2013 capable to produce 12 to 15 mtpa of 64 to 69% Fe for a minimum of 10 years.

It is interesting to note the following:

* Ferros project (mentioned in GGY's 2009 AGM presentation page 15, and old Centaurus metals (CUR) 27 oct 2008 announcement) has not been mentioned at all. It is potential for high grade lump product with immediated trial mining potential. Likely to be the next iron ore project to be developed after Itambe and Passabem projects.

* The Itambe project has been delayed by 6 months (ie mid 2011 instead of end of 2010). The 2 stage development strategies (stage 1 , trial mining in May/June 2010, stage 2 , full production at the end of 2010) has been delayed or scraped.

* Second scoping study of passabem project supposed to be released by March 2010 has not been mentioned at all.

* non ferrous project to be sold or Joint- ventured. What will happen to the Manganese project (Ponte De Pedra) in Brazil? used to be high profile !!!.



as always DYOR.