they have a decent sized JORCED iron ore resource from qhich the...

they have a decent sized JORCED iron ore resource from qhich the company went as high as $1.50-1.60 from memory 2 years ago due to their close proximity to BHP and FMG and right nearby other minnows like BRM and BCI. At the time the share price went up there was gr8 expectation for a MASSIVE iron ore resource, or at least 100million tonnes. They have circa 80million and i think this can be well expanded with more drilling.

But money got tight as all hell in the GFC in 2008/9, so theyre spending it on trying to identify copper ala SFR. Anf why not!?? Seems a goer to me if its THAT clsoe by to SFR!

For a coy with 80mill tonnes in iron ore near BHP, BRM, BCI, RIO etc, a tag of 90c and a market cap of 90mill is appropriate enough given that iron ore is in high demand and that EVENTUALLY the JORC can be expanded with more money and more drilling

So it aint over-valued