Borrowed from succedor (MMX thread)
A little more organized is Mount Gibson (ASX:MGX). It's the latest fending off takeover rumours. The company's producing - but it's finding more iron than its digging up. According its last reserve statement from last month it added another 2 million tonnes of iron to its reserves.
Atlas Iron (ASX:AGO) just upgraded its indicated resource by 756 million tonnes yesterday. That's not necessarily all money in the bank. It's just a huge upgrade in a market that doesn't care at the moment.
By the way, here are two to avoid: Strike Resources (ASX:SRK) and Territory Resources (ASX:TTY). They've both had recent troubles with loans or financing. In this credit (and equity) market, that's not worth the risk for retail investors. Juniors need financing.
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