paul kopejtka who wasted our opr opportunity, page-7

Lol... good one.

Lots of picks for MMX:

So in the Pilbara, what's good?

1. RHI - $90m (19.9% controlled by AQA and directors control 30%), in West Pilbara, awaiting for FMG and AQA to start on rail and port development

2. CUL - $20m, its iron ore interest is in JV with AQA and FMG, similar story to RHI but also has non-iron ore assets esp. in coal and base metals

3. AON - $11m, in West Pilbara, closest to the port and rail being developed by FMG/AQA, no JORC resource yet, but mainly potential magnetite. Also looking for higher grade magnetite in South Australia

4. DMA - $14.2m, great tenements near AGO's, BRM's, FMG's around Newman in Southeast Pilbara. Lacks access to rail from the big players.

5. RRI - $66m, north of Newman in SE Pilbara, similar situation to DMA, but has better grades in its JORC resource. This company is undergoing a strategic review which is considering putting itself up for sale or by way of JV.

Not much players cheap for MMX, or with access to rail or port.

What about the Midwest region:

1. MGX - $1.4b, has $600m cash in the bank (and its around 45% controlled by 2 Chinese companies Shougang and APAC Resources); is actively looking for new takeover targets for a year now. This company was the first company to be in production in the Midwest area and has been running well. MMX cannot afford these guys.

2. GBG - $850m (around 31% controlled by Ansteel), this company has been in production for a year now and doing well. This only thing that has damaged this company's share price was "MMX and the OPR" problem. Pretty much GBG aims to produce up to 35mtpa in the long term and needs OPR to be able to do that. Due to OPR's poor problem, GBG will be relying on Port Geraldton to ship its ore, but GBG can only max ship 16mtpa via Geraldton. AGAIN MMX's POOR problem. MMX cannot afford these guys.

3. ACS - $60m (takeover just closed on Friday and Xingang Resources controls as much as 54% of the company) its iron ore tenements are near MGX's, so they can use Geraldton like MGX does. This company also has base metals.

4. GWR - $76m (largely controlled by Hunan Valin, Natural Cliffs Resources, and FAS), its iron ore project is in Wiluna (near TOE's uranium project), thus the need for OPR is critical for this company to ship future production overseas. Company also has gold prospects, which the company is trying to spin-off into a new listed company but failed as market conditions do not permit it. This company has the highest grade iron ore in the Midwest.

5. EMG - $11.6m, the company has scored a deal that nearly doubled the share price, with a private Chinese company. Chinese company has agreed to take more than half its base metals assets into a new listed company (55% controlled by them and 20% controlled by EMG, by injecting in under $10m). The base metals prospect has been attractive as it lies within the same prospects as SFR, HOR, VRX, SRI, and DRM. Thus the high potential for gold and copper. EMG will continue to hold soley its iron ore assets plus the 20% stake in the new base metals company.



Yilgarn region?

There is RAD, MDX, JMS, FAS, CAZ



South Australia?

There is CXM, IXR, AON, WPG, IRD



Northern Territory?

SHD, WDR