Very positive announcement with little interest. Reasons: Not on the radar yet? Has been little posting on HC. or concerns relevant to this stock could well be that magnetite is not as attractive as haematite, location of resource not close to rail or road, not yet JORC confirmed. The company does make a lot of announcements and nobody notices. I think this is a good spec stock with a very low cap. Mick Borzi the retired Mareeba Shire mayor recently advocated the Queensland government look closely at opening up the old rail lines to the mining areas here in NQ that are now being targeted. Many companies have very good tenements here and this is a possibility. I'll be hanging onto my stock and wait for re-rating.
PS I don't know how the Mourilian tenement will go with EPA licences re barrier Reef polution and disturbing crocodile nests? Mourilian harbour is a port but I am not sure that the larger ships could get loaded.
Copy from http://www.pcq.com.au/mourilyan.cfm The Port of Mourilyan is situated about 20 kilometres south of Innisfail. Its main trade is the export of raw sugar and molasses from the Innisfail, Babinda, Tully and Atherton Tablelands sugar-growing districts. It comprises on-shore sugar and molasses handling and storage facilities, and a single sugar loader and associated wharf located within a sheltered natural harbour.
The port terminal is operated by Mourilyan Bulk Sugar Terminal, a subsidiary of Queensland Sugar Limited (QSL). The terminal is supplied by the South Johnstone, Mourilyan, Tully and Babinda sugar mills.
Tug services are provided by North Queensland Marine Towage Pty Ltd tugs based in Mourilyan, while pilotage is provided by Maritime Safety Queensland.
Molasses is exported through the port by Australian Molasses Trading Pty Ltd. Live cattle are also exported through the port.
PORT SECURITY
The Port of Mourilyan is currently at Security Level 1. For more information on security requirements at Mourilyan, click on the following link SECURITY INFORMATION.
TRADE
In 2006–07, total throughput at the Port of Mourilyan was 567,822 tonnes, a decrease from last year. Sugar exports totalled 468,797 tonnes and the port exported 94,617 tonnes of molasses. A 4,408 tonne trial shipment of woodchip occurred to test loading facilities.
A total of 31 ships visited the port.
ITT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
