The Tanami project (NT) is yet to be granted, but once it is, it appears RLC have a strong Radiometric anomaly to follow up. Negotiations are currently underway regarding access to the lease etc with neighbouring tenement holder Altura in the same boat.
Here is the tenement map showing the radiometrics.
Also, it is encouraging to see Cliffs move to stage two in the Bullamine Iron Project. Mind you there is quite a bit to explore so why wouldn't they. The metallurgy seems to be a strong point in this region with the ores upgrading to a high grade concentrate with low impurities at relatively coarse grind sizes. Magnetic Resources is also coming up with positive results from their iron ore projects in the region. Would be nice to see some pretty images and numbers from the Cliffs programs though.
RLC has recently dropped on low volume and are now worth only $5M. Not bad considering they have a 25% free carried interest in a regional iron ore project with Australias 4th largest iron exporter.
RLC Price at posting:
10.0¢ Sentiment: None Disclosure: Held
