There is no logical basis for a sell off. But short term traders...

There is no logical basis for a sell off. But short term traders will naturally take profits. Also the wait for GIRs fist JORC res at Beebyn and further analsis of other iron ore properties will be nerve racking for traders. If say a 10MTonne res is defined this wont propel the Co into orbit but it improves its status as an iron ore contender and underpins its current price. The 50-100 MT target at Beebynganna,the 1 Billion T target at Earaheedy, the exciting undefined target at Western Creek adjacent to BHP and its other suite of iron ore projects have the potential to create a $50 per share Coy.
But they also have a substantial reserve of listed investments and cash. They have a massive holding of mining properties.
A small percentage of juniors go on to become major mining houses. GIR has the characteristics of an FMG or a PDN
I believe that most of the drilling would have taken place and that analysis is underway. I believe the recent fall is due to profit taking and buyers waiting for more news

Warwick