Mike,Please grab a calculator, and just start running a few of...

Mike,

Please grab a calculator, and just start running a few of the numbers that I have kindly provided in my previous posts.

The numbers get very big, very quickly. 5Mt p/a is small fry in the iron ore game but for an explorer to become a "producer" is extremely significant because speculation about "risk" suddenly becomes speculation about "earnings" and then "profit".

Bottom line, if IOH go ahead with the 5Mt production pathway out of Bungaroo, it becomes an $8 - $12 stock IMHO and that is a fairly conservative price target when you compare to peers and/or start adding value for Iron Valley or Maitland.