Ann: 200-250Mt Initial Exploration Target at Yere, page-6

re: Ann: 200-250Mt Initial Exploration Target... Management better get their 'arse moving' because we are only talking targets and it is magnetite! ARH, GBG, AGO to name just a few of the much more advanced explorers and miners are already lining up Chinese investors. On top of that we have IOH, BCI and BRM who are on the verge of organising transportation deals with FMG.

The boom came and went and took on a few blue sky explorers in IO and made them miners. GIR had the tenements coming into this boom, sold off a few as IPO and made good money but missed the opportunity to progress. No doubt they don't need to worry about cash in the bank but without a serious project in mind, the share price will just go sideways.

We don't have the kind of optimistic sentiment of the boom time era for the forseeable future and investors will be very cautious about where they park their money. Why would they invest in GIR when there are heaps of other who are coming online with their mines?