Cliffs Resources sold a 400MT Fe resource to minnow Radar Iron...

Cliffs Resources sold a 400MT Fe resource to minnow Radar Iron (ASX:RAD) in April for total of $3.74m + $1 per mt royalty - looks ok on the face of it and will be developed slowly which also makes sense. It has good logistics although Kwinana isn't a very good port for bulk shipping in any decent volume (more cost with smaller vessels).

http://www.asx.com.au/asxpdf/20140424/pdf/42p59ppylbmwm9.pdf



Quite a lot more distress however in the Fe mid/small tier especially those not well advanced and poor logistics - they are truly stranded for along time to come.