market taking notice of iron ore spec

dont worry about share price..

look at market cap...fully diluted $16mm

if drilling comes up with the goodies, this company is going sky high.

see below email from exploration manager.

i gave him some hypothetical scenarios in terms of revenue. he wouldn't comment which is fair enough.

Hi,

Hypothetical scenarios can be dangerous things! I wont say what potential revenue could be, but happy to give some pointers to your calculations.

Note that the spot price is a lot higher than the negotiated contract rate – although I think your estimation of $60/t is about correct – however, the forecast for next years prices is a minimum of +10%.

Included would also be production, haulage, processing and admin costs. In essence, as a small company with low overheads, our potential NPV and IRR could be significant.

But it’s still early days – we think there’s good potential.

Regards,

Nick

Nicholas Jolly

Exploration Manager

Transit Holdings LTD

Level 2, 16 Altona Street

West Perth WA 6005