When you're hot, you're hot. When you're not, you're not.GIR is...

When you're hot, you're hot.
When you're not, you're not.

GIR is a speccie. One of the best. It has about 40c cash a share, and really makes its profits by selling prospects to others.

But iron ore is no longer the flavour of the month, so, sadly, nor is GIR.

But its been a good ride so far until just lately. No point selling at these levels. The price is silly but so is the whole market.

Looks to me that the first juniors to move will be the golds with production and low debt, plus cash backing. Or very rich gold. Its already starting. The big cap golds are just too pricey now for what they have in assets or are making in profits. A new dawn is beginning for gold juniors, who were the wallflowers in the last dance.

GIR are keeping on with the exploration, sooner or later users are going to come shopping after having experienced such high prices just recently. Not necessarily for iron supply, but for potential deposits. Most of these would be way too expensive for little GIR to develop, most of them are still on the smaller side as yet, but good quality. Guess the best are the ones near BHP which are thick and close to the surface. They need a much bigger resource proven up to justify capital expenditure and couldnt do it alone. Is it a dollar stock? Sure, down the track.
Wouldnt be surprised to see some big % resource expansion soon, as the labs catch up with the backlog and the new drills keep happening.