on the move - attractive prospect

This looks very interesting. Thoughts anyone?

At $36m mcap it seems cheap versus $658m NPV. The stock price is picking up.

Anglo Pacific recently took a 15% stake and Paul Kopejtka (from MMX) has joined the board.


From their presentation back in Feb09...

Overview of Liquid Iron Project

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Large & well tested (to JORC Standard) Iron Sands Mineral Resource in
Java, Indonesia, equivalent to 65 Million Tonnes of Iron

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Project NPV of $658 million with average net cash flows of $162M per
annum and operating cost of $150 per tonne (@$350/t Pig Iron)

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Further substantial upside in project life, scale and operating costs
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Scoping Study shows high margin, lowest cost quartile
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Excellent Local Infrastructure ?V power, water, rail, port
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Proven Technology being applied
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Binding Contract of Works signed with ability to mine and process iron
sands throughout Indonesia

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Experienced Board and Management with proven project development
skills in the iron ore and steel sectors