what is and what is not said

Nice quarterly report - the killer for me (in anticipation anyway) is the mention of all that drilling at Ricane, but no comment as to what has been drilled... This team has a great record of hitting good targets and I would not be at all surprised to see this develop as another strong card in the IOH deck.
Satellites seem to be taking longer than first thought, and the wording is more and more about how they can be used strategically. After all if IOH can't/won't get them up and running then who else really will?
Iron Valley progressing, and by the tone of the report it would seem that one KS is very interested in long term production (or at least wishes for FMG to see it that way). I think that the long term story is very very good for IOH but we will have to have patience if we want to see multi-baggers on this one.
PFS to stir things up (not holding my breath for a market re-valuation on this one) and see if FMG will bite, due in early August (so next week?), and then we wait until either Ricane results come in (still striving for a RIO deal near Mesa J?), or the eastern satellites.

Lots to value the company higher and higher, just seems that no big institutions yet willing to back IOH to production. My goodness me the jump in sp will be sharp when it happens though!

Have a good weekend.