up 25 percent, page-14

Don't even try to crunch numbers on old historical data- when noone knew much about iron ore anyway - as many posters are doing on this site -putting the cart before the horse. Get out there and explore for iron ore on prospective areas using modern exploration techniques and prove up modest tonnages of high grade ore -if they exist -if it comes up trumps with bigger tonnages that is a bonus. Simply follow the tried and proven method of FIRST proving up a modest iron ore resource like the pioneer Brian Johnson first with Portman and then again years later with Mt Gibson. Then follow the example again with TTY - only about 10 million tonnes or whatever it is in resources -but a highly succesful company.

If RSL only proved 2-3 million tonnes of DOS initially only a stones throw from Darwin -with low capex to mine and export you have a stock price far north of sub 2c. RSL has highly prospective iron ore tenements -apart from Daly River - as well as U. The former can be proved and producing cash flow in a far shorter time frame than uranium. These are facts - the NT is no Pilbara or even a Central Yilgarn but it's proximity to Darwin port and infrastructure makes iron ore an immediate compelling business strategy with just small tonnages within it's tenements.