any views on this stock

Looks good on surface?

Annual HM production of around 0.3mt, resources and reserves of 15mt, generating good profits.

From memory the guy running Ospraie used to be Julian Robertson's commodities analyst. Julian Robertson's Tiger fund did very well out of commodity plays in the 90's. His plays were characterised by extremely well researched positions. Ospraie has been buying vigourously over the past 6 months and has over 19% of the stock now.

80 or 90 percent of the stock is tied up with large instos. So there is scope for the stock to move up quickly.

TZMI, the HM researchers, suggest over the next 10 years zircon has a bright future as demand grows from an increasingly affluent middle class in Chindia. I've seen suggestions from some quarters that zircon has good environmentally friendly properties as well, so that could add a kicker to demand.

I don't know about supply but my guess is that whacking up a mine is already difficult in normal circumstances but the credit crunch has possibly made financing one even harder.

The DIV yield after rebating franking credits come to around 15% pa.

All up, fundamental picture looks sound, price looks good so might be worth a punt?