I felt a kind of dissapointment with the announcement of flying aeromag over Cunderdin. I was hoping that ENT would announce some drilling not some more indirect exploration.
Magnetite deposits are for the big boys and are not the preferred host of iron ore. As an example, there is major iron ore deposit in Northern Africa. Produces 12Mt of iron ore a year, 7 Mt of direct shipping hematite, 5Mt of magnetite. The hematite is cash positive, the magnetite cash negative - despite the fact the pelletisation plant is depreciated off and they own the railway.
I still have a lot of confidence in the team but please Dermott, focus on drilling, please no more distractions.
ENT Price at posting:
23.0¢ Sentiment: Buy Disclosure: Not Held
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