Initial Western Creek iron ore Mineral Resource estimate of...

Initial Western Creek iron ore Mineral Resource estimate of approximately 30 Million Tonnes located within 15 kilometres of railway and train loading facilities. I was expecting about 15-20Mt, so this is good news indeed.

Resource estimate covers only ~50% of the outcropping or interpreted Marra Mamba Formation on Giralia’s 100% owned Western Creek tenement. Was expecting an eventual number around 50Mt - 60Mt would be better. A very good outcome.

Several mineralised zones remain open ended with excellent potential to increase resource with further drilling. First I have heard of these. Add to the story.

I find it completely amazing that AGO has a 22Mt minable resource, and an eventual target of 90Mt – best of all, the company is capitalised at $1.1B. Everyone seems to think that they will be able to truck/train out of Utah Point without problem. But if anyone did their homework, they would find that if all the iron ore companies are to be believed – there is several times Utah Points capacity be shipped. Not only that – the Main Roads dept have made it clear that trucking ore to Port Headland will not be allowed, for a variety of reasons, but primarily, because the roads are not designed to cope with those sort of tonnages.

Giralia blows virtually every company out of the water when one compares its potential to its market capitalisation. It is a sleeping giant. The latest 3B suggests that the company has an enterprise value of around $196M. That is criminal.

Especially when one considers that Beebyn and Western Creek already have a combined mineral resource 36.6Mt @ around 57% Fe. With Giralia drilling Earaheedy next month (hopefully) – this has to be the cheapest stock of the ASX...

Or am I missing something...