All good bring it on all news is good news for the company atm...

All good bring it on all news is good news for the company atm :):):)


THE good times keep rolling on for junior iron companies with some very positive announcements yesterday.

Gindalbie Metals shareholders will be smiling all of the way to the bank after the company upgraded its Mungada hematite project by 62 per cent to 22.8 million tonnes.

That led to a pretty solid 14.6 per cent upgrade to the share price of the WA miner to a close of $1.375.

Chief executive Garret Dixon said the iron grade had improved significantly while contaminants had fallen.

About 67 per cent of the resource was now classified as indicated, taking the first 10 hematite deposits drilled much closer to becoming a direct ship mine.

It was a similar story for fellow Perth junior Ferrowest, which is having an interesting chat with WestNet Rail.

While Ferrowest had planned to send the merchant pig iron from its Yalgoo iron project by road, as luck happens it may be able to get a lift by rail.

WestNet is looking to build a line to Golden West Resources' project at Wiluna which will pass right through Ferrowest's tenement.

If the figures work out, Ferrowest may be able to build a 7km spur line to take the pig iron to Geraldton and avoid double handling of its coal inputs.

While transport costs remain around the same, the rail line would improve the economics of any future expansion.