Mr 47,CFR is now an iron ore company. They have recently picked...

Mr 47,

CFR is now an iron ore company. They have recently picked up some leases in India prospective for hematite and magnetite ore.

In the announcement a week ago, they alluded to a report on this coming out in early July.

The report will detail a resource estimate - ie, tonnage of hematite and tonnage of magnetite - at the very least.

It could also give IGV (in ground value), and other figures often commonly used.


Here's what they said:


"Chitradurga Iron Ore, India
The Company has engaged a consultant to prepare an independent expert AusIMM Valmin
Code assessment and valuation report covering its iron ore project interest and entitlements
in Karnataka, India. The scope of work is to complete the report based on a visit to the site
and the examination of materials and information made available, and on iron ore industry
information otherwise available.
The visit will be conducted over the coming week, and the report finalised in early July."



Read over some of the posts by Publucnchman too. He gave an estimate based on size of tenements and the area they are in. It shows the potential.