macrae12, page-2

Yes I like them but I fear I may have missed the boat. Know their business via ARU. Congrats. Frances Creek looking good.

Territory Iron agreement with GBS Gold at Frances Creek
19:32, Friday, 8 December 2006

Sydney - Friday - December 8: (RWE Australian Business News) -
Territory Iron Ltd (ASX code: TFE) has struck an agreement with GBS Gold
Australia Pty Ltd that allows Territory to explore for iron ore on
GBS-controlled tenements EL24715 and EL23506 in the Frances Creek area
of the Northern Territory.
In return, GBS has the right to explore for gold on Territory
tenements EL24040, EL9999 and EL22856.
"This is an important agreement to Territory Iron," managing
director Mr Doug Stewart said.
"It pulls together under our banner all iron ore prospective
ground that we do not already hold in the Frances Creek region.
"This prospective ground extends northwards from the Frances
Creek mine site to near the Mary River - a distance of about 35
kilometres.
"The availability of this extensive tract of ground will give a
significant boost to our exploration efforts next year.
"To date, our exploration team has had great success around the
old Frances Creek minesite, where they have increased resource tonnage
to 9.4 million tonnes and defined reserves of about 3.9 million tonnes;
and we look forward to continued success next year in this northern
area," Mr Stewart added.
GBS is an Australian subsidiary of GBS Gold International Inc,
and recently commenced goldmining at its Union Reefs Operations Centre
located in the Pine Creek region of the Northern Territory.