I bought some EIO March 2011 so have seen the ups ands downs, 10 for 1 consolidation, completed ownership of KCM ltd
2nd OCT 2012 Non- Executive Chairman, Dr Ian Burston has purchased 500,000 shares of the Company on market.
June 30th report "Maiden" JORC compliant mineral resource at Agbaja Project of 488 million tonnes with an in-situ iron grade of 42.7% classified as Inferred.
Energio is currently completing an intensive reverse circulation and diamond drill program at the Project with the objective of providing an "UPDATED Mineral Resource" in June 2013.
Total assets of $54 Million
Cash and cash equivalents at end of financial year $4,185,601
outlook
By 2013 EIO will need some capital to go from exploration to a potential mining Company.
Note: EIO will Need a good Bank Loan...China investment banks are looking for value (they are currently doing low ball offers ) This is not good for us investors to capitalise on the share growth appreciation from explorer to producer. Hope we are there in 2014 and Fe price back over $100-
Good luck.
EIO Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held