why this potential iron ore company has value

1) currently very little shares on issue, fully diluted apprxox 40mm..

current market cap approx $16mm

2) share price at a nice price 40 cents, especially in view of later placements.

3) prosects located in a great area Marda-Diemals greenstone belt W.A

4) neighbour Portman Ltd market cap $2.3 billion, Iron Ore producers.

5) Close to railway line and major highway

well i hope the above has wet your appetite, i hear you say you want more....ok

Transit has very little in the way of overheads, tight office with experienced people. this really helps keeping the costs down.

therefore just a medium defined resource would give Transit a healthy margin on any mining prospect ie: Iron Ore or perhaps Gold.

perhaps any resource above 5mm tonnes would be economical. say at a rate of 1m/t per ann.

the best one could hope for would be mining the ore and either transporting it by rail or road to appropriate shipping destiny.

whats next, well have to wait for furthur advise as too when drilling will commence.

my gut feeling says "this company will run things on the smell of an oil rag". which means big upside for shareholders.

;))