Just read the quarterly and it seems they want to identify a...

Just read the quarterly and it seems they want to identify a resource by mid year, though i highly doubt this will be the 4-7bt resource target, though an initial resource to confirm the existence of I/O. Either way, $10m market cap is so small, one would expect a resource confirmation to push the market cap to at least $50m (a couple hundred tonnes of I/O JORC identified, including high grade ore 40-65% Fe), this means a share price of $1+.

Cash position sits at $6m at the end of last quarter.

At the moment it would be safe to say this stock is flying under the RADAR. Though there are so many I/O stocks that are moving into development this year, i think many fancy jumping on them before looking at the explorers.

Costs would be higher for RAD one would expect, as compared to a I/O company in Africa.

It is tempting to jump on board, and i think more investors would become interested on discovery/confirmation of higher grade ore around the 55-65% Fe mark.