assay results, page-2

That would be a logical approach. The key here is getting the options back in the money and all efforts will be directed to doing so. When FMSOA stops trading the path will be clear to do so IMO.

An interesting article ....

Iron ore prices tipped to rise 18% in 09
17-September-08 by AAP

The big winners will include Rio Tinto Ltd and rival BHP Billiton Ltd, the world's second and third largest iron ore producers.

GoldmanSachsJBWere is predicting an 18 per cent plus price rise for Australian iron ore "fines" in the Japanese financial year starting April 1, 2009, after annual contract talks are concluded.

Demand for the steel making commodity continues to be driven by the rapid urbanisation of China and other developing nations, including India.

"Can iron ore contract prices rise at a time when spot iron ore/steel/scrap prices are all falling and global steel production growth is losing momentum?," Goldman Sachs asked in a client note.

"Our answer is "yes" - it has happened before and can happen again."

The brokerage said that the supply-demand dynamics for high quality seaborne iron ore are robust enough for the large contract suppliers - BHP Billiton, Rio Tinto and Brazil's Vale - to secure a seventh consecutive annual price rise.

BHP Billiton and Rio Tinto this year settled on a 79.88 per cent increase in the price of iron ore fines and a 96.50 per cent increase in the price of iron ore lump with Asian customers.

The rise was the sixth annual increase in contract prices for the steelmaking commodity.

BHP Billiton and Rio Tinto are progressively ramping up their operations in the Pilbara region of Western Australia to address increasing demand from China and other developing nations.