You are certainly right with your post about iron ore being widely spread around the planet, but only few places have the Fe grades left, like we have here in the Pilbara.
And THAT is the big difference and THAT is the very reason why the pilbara is now THE power house of the WORLD when it comes to iron ore.
The latest drilling results are certainly not something to ignore.
First of all we are relative close to Port Hedland being 220 km away.
And with some large intervals over the 60% Fe we looking at a high grade deposit and by the looks of it probably far more then 140 million tonnes, which the company has been using as an conservative upper level.
Being close to Port hedland and having such a large high grade resource, is imho just a bit too close to the fire to call it a stranded deposit.
When this has been drilled out to the extend that we get a fair estimate what we are dealing with, we can expect that deals will be done.
Time will tell, but with iron ore in high demand, at least the medium term, this deposit, if it is as good as the first indications are, will not just stay there laying idle imho.
good luck to all holders.
jojo
GIR Price at posting:
$2.10 Sentiment: LT Buy Disclosure: Held
