Well, i think there is a lot of gravy here,They are cashed up....

Well, i think there is a lot of gravy here,

They are cashed up. At end of December quarter had 8.25m in the bank, which was boosted from the sale of Chesser (CHZ).

They own 4.2% of WPG Resouces, has identified approx 36m tonnes of DSO hematite + 569 million tonnes of upgradable magnetite ore (35% iron content), at Kestral, Peculiar Knob and Hawks nest project areas.

They have 510K shares in AGR at $0.92, with 1m exercisable options at $0.35c - very much in the money. Plus have a JV for two very prospective large-scale phosphate projects in Brazil.

They own 36.7% of TMZ,who have identified over 30 high-quality exploration targets for gold, silver and base metals, over a 7000 km square are on the Thomson Fold Belt in northern NSW

They also own 48.3% of EFE, which have iron ore projects, and also rights to a 51% direct ownership of four of EFE?s 17 tenements.

All looks pretty good to me. But as always do your own research..