Top 20 is over 50% not under. Placement was done at 18.5c, if...

Top 20 is over 50% not under. Placement was done at 18.5c, if they think they can make money at 18.5c, sp should be a lot higher.

For undeveloped iron mag. with good infrastructure, should be around 20-30c/tonne... if get to 1Bt mag:

1000mt X $0.20 = $200m + $20m cash = $220m / 305m shares = $0.72/share (excluding options & other projects)

However, with EU problems market doesn't value mag iron well.

This is just my view...