AGO have a JORC that is dwarfed by DMM's 33mt JORC that they released last week (let alone the additional 100mt haemitite estimate and 800mt magnetite estimate).
Yet AGO is a $1bn company now.
AGO are obviously 2 yrs further advanced in production, but as the GBG Ernst & Young Ironore article shows, all the banks expect iron ore prices to rise over the next 3-4 yrs at the very least.
With that said, the next big gains (ie, in the style of AGO which has moved from 50c or so to $4) will be in those that are next tab of the rank in terms of production.
DMM said in the recent announement they expect to be a near term producer in 2 yrs or so.
If they are producing in 2 yrs, they'll be a 750-$1bn cap'd company. No doubt about that at all.
Current Mkt Cap only $50mn or so. Scoping Stugy out THIS month.
