good news at frances creek

Frances creek IO is probably the best grade IO in Australia.Even beats the very high grade stuff at UMC.problem is there is not enough of it and current mine life is about 6 years. today's ann confirms decent quantities of the VERY highest grade IO have been discovered. Quantities not yet released but it is all at the current minesite and can be fed into TTY mill and transport system which is cheapest in the country. only drawback is depth of some of the deposits but still viable. The 2 best (of many exc) strikes are 45m of 66% Fe beginning 39m down and 47m of 65% starting at 30m depth. If TTY was simply a deposit this would not mean much but is a 2million ton/year producer and all infrastructure in place and TTY mine runs contniously.