iron ore mining project upgrade, page-8

Ac

If it all falls over, KGL will be basically where it was prior to the acquisition, which was not a bad spot to be in anyway imo, with a significant gold project being developed (Savoyardy), and 50% interest in a large geoT project fully funded by JV partner Panax.

Hence why downside is very limited regardless of what happens with this project imo.

The management have previous big project experience, and I expect many of them have pretty good contacts in the finance sector.

And if they don't, well when ERH gets to $10, I will be happy to bankroll it myself ;-)

But you would have thought their Kazak partner would have taken this into consideration before opting for Kentor over the likes of Barrick and Anglo.

I also wonder if perhaps they could get the Chinese interested...after all, it is on their border and if they can show that the other 26 magnetic anomalies all have decent grade magnetite as well, I would expect the Chinese would be very interested in it.

Cdchi1