Hi YT, I'm sure you remember how this one ran from about .20c to over .90c in the blink of an eye back in the middle of '07. The stock was, and I believe still is, very tightly held. I'm amazed at how they have been able to survive the GFC on the smell of an oily rag and hardly diluted the compamy at all. It seems to me that announcements have been more in the vein of "The company is pleased to announce it has raised $1.32, which will be enough for the current round of drilling and Directors remuneration." By jingo, it was. Could history repeat here? As you point out, if the drilling gets some decent Fe hits, it could easily re-rate. BM has also indicated that the comany is confident of concluding JV negotiations in the near future. If that comes off, it could really be hang on to your hats. Still a we wait/we see situation, but with a MC of $17m, I reckon it's worth a small punt. On the flip side, I would like to see a bit more action on the pig-iron project. Still, there's only so much that can be done with $1.32. Might need some JV funds to kick it along, now that Fe prices have improved. Peter
LCG Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
