from Robyn Bromby, the Australian, 12th Oct "Meanwhile, we...

from Robyn Bromby, the Australian, 12th Oct

"Meanwhile, we believe Chinese interests have been chatting to Magnetic Resources (MAU) about that company's iron ore interests further south. MAU has, as we reported earlier, pegged five areas in the West Australian wheat belt where, happily, a network of railway lines already exists.

In fact, at its Jubuk project near Corrigin there is a choice of two railway lines. Hey presto, no need to build your own infrastructure.

The junior has reported sampling results including 108m at 39.9 per cent magnetite. MAU believes it is on the track of a large zone 30km in length with between 200 million and 300 million tonnes of coarse grained magnetite. The significance of that is normally you have to spend money crushing the ore to release the magnetite, but this stuff is so coarse grained that this process might not be such a challenge. Drilling is planned once the present crop is in."

http://www.theaustralian.news.com.au/business/story/0,28124,26195146-30538,00.html