so wat,GIR have a 16.6% interest in RHI and spun it out. RHI are...

so wat,

GIR have a 16.6% interest in RHI and spun it out. RHI are sitting on a massive haematite body, but only have a 20% interest or a 2% royalty in all Fe sales. Whichever is the more attractive RHI have plenty of time to chose.

GIR have extremely strong fundamentals. Their latests announcements should have seen the SP rise above $1, but the latest market volatility has caused a few medium sized sellers to exit the market, creating bargain entry at present. Buyers are sitting and waiting until they buy this one up.

Their current projects include:

100% interest inIron Ore atBeebyn, Earaheedy, Yerecoin,McPheeCk etc High grade haematite 62%

25% free carry around 1 of Australia’s 3 Uraniummines at Lake Frome JV

100% interest in undeveloped 170,000 oz Gold camp at Snake Well

75% interest in new Nickelsulphide province at Daltons.

Nov’05-Copperspin out into listed PacMag(ASX”PMH”)-Giralia 11%

Feb’06-PilbaraIron Orelisted; Red Hill IronIPO (ASX”RHI”)-Giralia 16.6%

May’06-Uraniumassets listed; U3O8 LimitedIPO(ASX”UTO”)-Giralia 12%

May’07-Zinc assetslisted;ZincCo AustLtdIPO(ASX”ZNC”)-Giralia 62%*

Carpentaria Exploration Ltd spin out of Qld-NSW targets announced