Ann: Quarterly Activities Report , page-2

IFE looks like a solid little stock still. 60MT resource (35MT indicated at 30%) at Wilcherry hill, Hercules looks to be a fairly large deposit with only 25% tested and 216MT inferred at 28%.
They hit milestones for pre-feasibility, signed a MoU with the 3rd largest steel maker in China, Government is moving ahead with the port which will greatly benefit this project, $5mil in bank, with little drilling planned to use that cash ... Many other prospects there in the license areas too with Ultima Dam (133m @ 30%Fe being one)

Now where are they at the moment? I think that hey have fairly solid fundamentals, but the numbers (resource) may not be quite big enough... to have a truely robust project in this environment you will need to have a big deposit, with high grade. To get this they will need to do more drilling, and there doesn't look to be much more planned in the very near future.
Can anyone shed any light onto what the plan is for the next 3-6 months? The activities report illudes to the drilling being completed for the time being. Will they be focusing on securing deals with off takes?? is there any more drilling planned?? Any idea when feasibility study is due for completion and when we might see results? They are starting engagement with offtakers pretty early on so are we likely to see any more action on the deal front prior to BFS?

Cheers,

Bilbo