SidoWhat you say is so untrue. The company announcement was...

Sido

What you say is so untrue. The company announcement was headed '1 Billion Tonne Pilbara Iron Ore Target', further, the summary paragraph 'The Mardie Iron Ore Project; with an exploration TARGET of 1 Billion Tonnes of Iron Ore.

Since when does someone interpret the word TARGET to mean 'they HAVE 1 billion tonnes of ore' to quote your words. Your interpretation of the announcement is very dodgy (or should we say doggy) in my view. If you got burnt or get burnt for your misinterpretation of the word TARGET well thats your fault. Invest in a dictionary not shares.

The company has used modelling to reasonably identify an area worth exploring. If comparable neighbouring tenements have come up with 1 billion tonnes plus why cant the company, whilst ambitious in the first instance, say it targets a resource of comparable size. A smart investor would or should question the claim until further facts are presented prior. It has used modelling to determine a target size. Not unusal. If the company did not explain how it determined its TARGET people (shareholders) would be asking it to explain why it was TARGETING that area and what data or signs did they have that there may be ore there to justify future exploration expenditure. I read the announcement as the company informing their shareholders of their forward strategy.

Would you rush and buy Harvey Norman shares if it said it had identified and TARGETED 20,000 prospective suburbs in which it may position stores based on demographic modelling? In Archery parlance a target is simply an object to aim at to measure accuracy. The fact there is a target to aim at does not mean its going to be hit.

The market has acted irrationally in this matter. Not the company.

cheers