Iron_mike, IMO I think that when we want to work out what’s...

Iron_mike, IMO I think that when we want to work out what’s going on, we must look at long term strategies. KS has enough $$$ to live and is not in a hurry.

Even with no (current) rail/port access, there’s still mid/long term opportunities.

The additional funding for FMG sends out a strong message that they are going ahead, unless the IO price drops below $100/t IMHO. $25 mil is $25 mil, I cant believe for a moment they are playing around with IV and that anybody at FMG would simply p…. away $25 mil. IOH WILL get all the approvals for IV and FMG WILL begin ASAP, ka-ching, another $20 mil in the bank (oooh and some royalties).

Then there’s Maitland, I’m really intrigued when, with potential big capex, they spend so much effort there. Why would FMG want to have a chance to sling in 50%+. Something is going on and/or there is more of something they haven’t told us about.

Bungaroo is still there, love the idea of truck and barge. Once the dry tons are gone, then maybe a JV to mine the rest, perhaps? If they truck to Mardie, they have said they believe there is DSO iat Mardie, they could wheel barrow and barge it.

Oh, lets not forget Mt Dempster. Yes I know, no JORC yet and zero attributed value. 2, 3 or 4Bt WILL attract value, don’t know when or what, but it will.

IOH with currently 1.6 Bt of ore, maybe round that up to 4-5Bt after proving up Dempster, western satellites, Mardie, more at Maitland plus there are new tenements we are waiting for. Unless the stuff evaporates (quick, put a cover over it…), the inventory will only grow.

The market will come back, people will fall back in love with IOH, the brokers will still make their predictions, and we will continue to wait in the dark.

Overall, I feel the wait WILL BE WORTH IT.