Ed. I think you should read through all the Hot Copper postings as Peter suggests. As well go to the ASX site or GIR's web site and read through the last year's announcements to build an objective overview of the Coy.
I agree with your viewpoint Peter. You have good analytical skills and are well informed. I have a substantial holding which Ive held for a number of years. This is a long term hold. The value of its investments and JORC resources are over $1.20 So it's huge exploration portfolio is valued conservatively.
Peter. Im about to cover familiar ground for you but this is for Ed's elucidation.
The company is receiving increasing coverage because of its focus on its iron ore deposits. Their deposits in the Beebyn Weld range are being drilled currently and a JORC measured resource could be available by Christmas. The land at Beebyn is close to 2 other coys locked in a takeover battle. This battle is throwing a searchlight onto GIR which will help its share price. More importantly there is a high statistical chance that GIR's JORC resource is between 10Mill Tonnes and 100Mill Tonnes. Somewhere in the middle I believe would add over $3 to their share price. JORC is the official Aus standard for resource measurement. GIR has a deposit at Earaheedy which is exhibiting iron oxide over many kilometers. The coy is drilling 40 widely spaced holes currently to get a feel for the res. This is a good grade channel iron deposit. It has the potential to be a billion tonne plus deposit. Have a look at the most recent releases from Fortesque FMG and look at their 5 year chart on the ASX site or an online broker site if you have access. You will then realize the potential of GIR if all the ducks line up over the next 2 years
Regards Warwick
The
GIR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
