The big key for me is the 60+m of 60%+ Hematite. All that from...

The big key for me is the 60+m of 60%+ Hematite. All that from only one of their orebodies. Factor in more drilling on that one orebody by the other 3 main orebodies and you start having a very classy deposit.

I believe the more they drill the more likely we are of seeing 100m of 60%+ Fe. I am in the process of trying to overlay the holes drilled so far with the EM mapping completed to see whether they are still drilling the edges or have started drilling the main body.

63% Fe is a pretty big number and to see the SP drop really p11sses me off when you look at the likes of FDL who release a statement saying we "think" we have some ore and the SP goes up 800%. Here we have confirmed numbers from drilling and it goes down......WTF!

Also remember that they haven't included the blendable product below the quality hematite. Rather that exporting high quality they can blend up with some lower % Fe to produce more tonnes albeit at around 58-60%. Still a very saleable item. This means that they potentially have around 200Mt rather than the 80-140 quoted as they are only quoting the high % Fe!

Food for thought?

Maxi.