eastern iron: broker update

Sorry, another post about EI, but since PTS will own 45% (more with options) of the company, it is very pertinent.

My broker has included the following on Eastern Iron in his regular speculative update.

Cdchi1

Eastern Iron (EFE) 20c (New IPO)

My nine-year business relationship with the team at PlatSearch has resulted in this outstanding opportunity. I am very proud and excited to be presenting this IPO to clients. I am strongly recommending Eastern Iron based on:

�� Generous IPO terms for the retail investor. On listing will be capped at $9m, have $5m in cash and have PlatSearch as their major holder with 45%. Just goes to show what honest and hardworking people can do for shareholders instead of lining their own pockets pre-listing. (Please refer to prospectus for full details)

�� Strong regional support remembering that NSW includes Sydney, Newcastle and Wollongong. News of the IPO made the front page of the Newcastle Herald.

Peter Buckley (Managing Director) said, "If we can commercialise this, it could be a very, very large project"

�� Initial test results very promising and the infrastructure is laid on for EFE. There is no need to blast, strip, build railways, ship loaders or dredge ports. It is all there.

�� Potential of Eastern States iron ore projects yet to be realised and appreciated. The WA juniors and mid-caps have undergone major re-ratings.

Regardless of market conditions, Eastern Iron (EFE) will be a very keenly sought after IPO with initial indications already promising. The terms of the IPO are very attractive for retail investors (floating at shell/cash value only), with a 1 for 2 loyalty option post listing providing further speculative appeal. We are getting the management team, access to infrastructure, and exploration upside through a dedicated iron ore junior for next to nothing. SUBSCRIBE FOR THE EASTERN IRON IPO.