fdl or this

Balla Balla Introduction

Balla Balla Tenement Location Map The Company’s main asset is the 100% owned Balla Balla iron ore concentrate project, located near the coast between Port Hedland and Cape Lambert in the West Pilbara region of Western Australia.

The key Balla Balla project components include:

a Feasibility Study completed September 2007 for 6 million tonnes of magnetite iron ore production annually
two 15 year 3M tpa sales contracts with major Chinese Steel Companies
coastal location near major ports, gas and grid power with main highway access
no requirement for construction of rail or port infrastructure
large homogenous magnetite orebody with +25 year mine life
lowest processing costs of any Australian magnetite iron ore project
potential for vanadium and titanium production
In July/August 2007, Aurox raised AUD102 million, comprising a placement of shares and convertible notes with a number of international and local institutions and sophisticated investors. These funds enabled Aurox to complete the purchase of 100% of the Balla Balla project. The remaining funds are for capital equipment purchases such as grinding mills and for resource drilling across the remaining 11 kms of magnetite mineralisation extending to the east and west of the 5 km BFS study area.

The new Balla Balla Bankable Feasibility Study demonstrates strong project economics with magnetite iron ore shipments to China scheduled to commence mid 2010.

http://www.aurox.com.au/balla-balla-introduction/

FDL has a market cap of around $150m with $5m in cash. AXO has a market cap of around $160m with close to $80m in cash.

You make the decision for yourself!!