iron ore cheapest wa coy with 60mln tonnes

In Western Australia, there are numourous emerging iron ores companies that are challenging the goliaths of BHP & Rio TINTO, these companies have been on astronomical runs and amazingly they are still running: FMG, MMX, GBG, MIS, AGO, MGX , etc...... If you do a one year chart on these companies, you'll know what i mean....... For your information:

- FMG: was the best big cap performer for Financial year 06/07 on ASX stock exchange.
- MMX: was the best small cap performer.....

The Chinese all want a small pieces in these companies to diversify their risks from having to rely from BHP, RIO TINTO for iron ore supplies.

Here is my HIGH RISK/SPECULATIVE TIP: PSP - is trading at 14.5c (value it at approximately less than $15mln), it might be as low as 10c and might be as high as $1 (+700% upsize) a year from now...

It has a few tenements at MT Gibson and they are all potential to contain massive iron ore deposit (close to MGX, GBG)..... on one of its tenement name WOOLSHED, might contain 50-60mln tonnes of iron ores.... company will provide an update on WOOLSHED soon and drilling will be shortly after......