blog update acs vs pdy

Not sure if you guys saw the last ACS announcement about their Magnetite Range project at Mount Gibson, but if did and you want to see a size comparison with Padbury's project then read on........

I like iron ore. I like investigating companies that also like iron ore. I also like to compare the iron prospects I come across and the companies that control them. My latest exercise in time wasting was this image.



The top half shows Padbury Mining tenements and the bottom half shows Accent Resources’ Magnetite Range project’s tenements at the same scale.

Follow this link for the recent announcement made by Accent Resources (ACS) about Magnetite Range http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00978762

In short, the project area contains some 10km of strike length which, according to ACS a year ago, justifies a 300-500MT exploration target. The market certainly liked the announcement and saw ACS shares jump nearly 50% taking the market cap to approximately $20M.

Ill draw the map…..you can draw the conclusions.

Disclosure: I hold shares in Padbury Mining (ASX: PDY), I do not hold shares in Accent Resources (ASX: ACS)

...how next to kill time while we wait on results?

Laters.