Hello Hedg and Clozapine, Aside from Chris Corrigan’s 56 million...

Hello Hedg and Clozapine,

Aside from Chris Corrigan’s 56 million shares there is this from the last Annual Report... i.e GEL Resources 30% interest in Trouser Legs joint venture, so he isn’t really going anywhere!

On the Mt Bevan Iron Ore side. As long as the JMS spin off of its Mt Mason I.O. hematite resource proceeds smoothly there must be a deal done at some stage for the 20% of resource in the LCY/HAW adjoining lease. From there the possibility of exploiting the substantial Magnetite resource may come into play.......depends on the Indians really.

One thing to note is that both HAW and LCY recent quarterly reports stated they were now investigating further resource drilling of the Hematite and Magnetite at Mt Bevan. There has been no activity of that nature since 2014...seven years ago!!

Perhaps they want to know exactly how much resource they can take to the negotiating table.

Keep the faith,

Redtank.