While its hard to comment too much without seeing the details of...

While its hard to comment too much without seeing the details of this announcement, it sounds as it could be a big step forward for the company. They dont have much in the way of major shareholders currently and are pretty advanced in comparison to other iron ore juniors with construction set to commence later this year. A JV would help to reduce the risk of the project getting finance as being able to borrow $50million+ may prove difficult in the current climate.

Hopefully it is a deal with a chinese steel mill and includes some sort of off-take agreement. Will be good to hear how the feasibility report is progressing, i have been a bit skeptical of them sticking to their deadline.