good point matchbox.a look at the quarterly, shows that they...

good point matchbox.

a look at the quarterly, shows that they have deferred a decision to drill corunna downs - till later in 2011 - after they have done more work - particularly in relation to the southern tenements.

looking for iron ore, is a bit easier, than looking for gold. it is either there, or it is not there - it is not like "trying to find a needle in a haystack". spending a few hundred thousand dollars, drilling a few holes, in the targets that they have, could crank the shares up a cent or two.

as it is, they will be out of money within 6 months (that is assuming that they raise $1.5m in a rights issue - and another issue will be required ....mmm by then, they will probably be able to issue shares at "mates rates" under the 15% rule.

agm, will be soon - there will probably be a resolution seeking shareholder approval to issue a few billion shares , at a discount