john rawicki, state one stockbroking - buy rec

Hemisphere Resources (HEM)

This company has produced outstanding results from its maiden iron ore drilling program in Western Australia. The iron ore deposit has a low strip ratio and is close to existing transport. The area tested indicates a continuous deposit thats more than 800 metres long, 200 metres wide and up to 30 metres thick. It potentially holds more than 10 million tonnes of high grade hematite.
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Assay results should be on the way in about a fortnight, expecting some good results there. July-Aug should see their next round of drilling occur.