iron ore

Citigroup have valued ILU iron royalties from BHP at 1 billion or about 80% of current market cap.


this is area c for the above mentioned.


17 prospects have been identified around and within area c mining.

north is of greater value which bhp holds,

around 750 million tonnes possibily 1.5 b.t.

south which umc holds is most likely to hold

250 -350 m.tonnes just in one area.

bhp on the hunt for greater share of the iron ore industry.

rio to expose the greater surrounds of hope downs.

southern flank umc's pride joy.

also of interest is the tennant that sits below

the southern flank,