worth a little research

These are the headlines from IAU ASX Announcement today,"TUJUH BUKIT INDONESIA
MAIDEN PORPHYRY COPPER-GOLD
RESOURCE ESTIMATE
500 MILLION TONNES AT 0.4% COPPER, 0.5G/T
GOLD
- THIS DELIVERS 2.1MILLION TONNES OF CONTAINED COPPER AND
8 M OUNCES OF CONTAINED GOLD AT A 0.2% CU CUTOFF.
- MAIDEN INFERRED RESOURCE OPEN LATERALLY AND AT DEPTH.
- DRILLING CONTINUES WITH 5 RIGS."
"This current resource estimate is in addition to the oxide gold-silver zone of 95.3 million
tonnes at 0.66g/t gold and 25.9 g/t silver for 2 Mozs contained gold and 79.4 Mozs contained
silver (see release dated 25 August 2010), and which is also continuing to grow with ongoing
drilling.
CEO Brad Gordon said: This inaugural porphyry resource estimate firmly identifies Tujuh
Bukit as potentially a world-class copper-gold project. It has already delivered beyond our
expectations and we look forward to continuing to extend the as yet undefined boundaries of
this system. Its still early days for us but we are aggressively advancing both the sulphide
and oxide components of this exceptional project and, with US$40 million in the bank, we
remain well funded.
IAU currently has a market capitalization around $546m.
Positives:
1.Recent large turnovers suggests this is now on the radar of large institutional buying.
2. Given the strength of both copper & gold prices this company has significant resources of both these commodities. Plus plenty of silver as well.
3. 5 Rigs drilling give the possiblity of more upside to the current announced resource.
4. Frequently porphyry type discoveries have multiple occurances, so there could be further discoveries to come.
5. Given IAU are also listed on the Toronto Stock Exchange (TSX) the overseas & American buyers will be the key valuers to this stock & not the australian market.
Weakness:
1. Some sovereign risk associated with Indonesia but plenty of big mines operating up there.
2. Some Environmental issues may have to be dealt with before a mine is opened.
This company has all the markings of a baby elephant, but no investment advice is given so please do your own research on IAU.
Regards
Buffett