high calcined iron ore results inc 66.5 pcent, page-40

The most recent CAZ presentation I can find states...

"Large tenure > 250 sq. km, 15km enriched banded iron formation discovered First drilling targeted a 2.2 kilometre outcropping zone of mineralisation
Over 2.5km of strike drilled to date with results including 51m @ 58.8% Fe, 45m @ 58.7% Fe, 35m @ 59.0% Fe, 21m @ 61.1% Fe and 58m @ 56.1% Fe
Ongoing Diamond drilling underway
MoU with Esperance Port Authority, discussions underway on rail access
Initial resource calculation due in Q4 2008
Development options being assessed"

Since then, the GDA september quarterly had some new drill results worth noting...
Page 8 and 9 of the GDA sept quarterly....
seems the length of the Fe is increasing in some areas with 73m @ 58.4, 32m @ 60%, 29m @ 59.2%, with numerous other deep section around 45m, 58m,60m etc....the LOI is high which gives an higher Calcined Fe figure.
For comparison purposes I mention FMS as I'm familiar with their exploration etc.
Keeping in mind, the FMS ( Flinders) estimates are on an average target estimate initially of 8m ( they are getting about 16m average in their current assay results) , the JV Gondwana has with CAZ for GDA (GDA 15%)is producing some higher grades and much longer intersections.
Also pleasing to see reference to the current 2.5km long strike length has an additional 14km of identified BIF extensions yet to be drill tested.
With no capital funding required from GDA, the 15% interest Gondwana has with the Mt Caudan Iron Ore Project is advancing nicely and could end up coming online for production at a time that coincides with an improved world market for commodities. China has massive growth ( still 9%) and the current world sentiment is driven more by the financial problems in America rather than the Asian markets. Asia is growing, demand is continuing, stock piles of many commodities will decline as many mining operations are put on hold until prices pick up. Iron ore prices seem to be on the agenda but I think the contract prices will remain in the vicinity of where they are. Spot price will go down short term.