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tinwins, actually they now have 4 rigs on site @ selenge. They have added 4000m to the 8000m they are already drilling. We are waiting on some 'imminent' results from about 8 other cores. I say imminient based on my own assessment of time frames for assessment.

The gem in this quarterly is that the management have started to highlight the value in the low grade resource. Its not what they DRILL, but the cost to process it. Curshing and cheaply screening the lower grade skarn can cheaply turn it into a 60%+ Fe grade. Add to this the shipping advantage that rail to Central China has and you are on to a winner.

I would like to see a JORC target issued from the company so we can get a feel for how large this depsosit could be

Oh... and add to that it is a hillside deposit which has a low cost for stripping! Cha ching!

Results will probably trickle through into early next year about January and then I would expect that we would be seeing a JORC modelled rsource out in about Feb/Mar.


So I have been trying to shake some jutters about Iron Ore price. Its the inevitable vertigo that people get after a surging commodity price suddenly pulls back.

You have to ask yourself, have the fundamentals rally changed?


I honestly think (imo :) that it is a big no!

1/ FMG Quadrupling their capacity to 155mtpa says it all. If HAR was able to get up to 5mtpa I would be a very happy man!

2/ China is absolutely on the hunt for foreign iron ore as they are being dominated by the big four; RIO, BHP, VALE, and FMG! So seizing an asset that is nearby will be high on the agenda. Lets not forget their appreciating Xrate and wads of cash they are sitting on after years of surplus'..not too mention declining internal supply and grades in the mix. HAR with a JORC is a hotcopper commodity.

Lets hope for some continued success in the drilling results guys. The market probably underappreciates the results to date because they dont have the wow factor. We are after the fundamental factor though.

SF