I understand that this project was held by BHP until late 2002, I understand they held it for a number of decades and were forced to relinguish it under the "use it or lose it" rules it was then pegged by a former SA government minister in early 2003 and the vendor has been tied up in litigation since gaining the title and only this year cleared that litigation and has free title.
So actually only two rather than 100+ have taken a look at this. Very similar to Iron Roads project in SA however I understand Iron Roads is under 80 metres of cover whereas this is actually a ridge so strip ratio will be very low.
The SA government are going to get right behind projects like this to reignite the mining industry in that state, not to many mines outside Olympic Dam so infrastructure spending on ports etc will eventually be forthcoming, not saying this is going to become a project, but there is no doubt some smoke and fire to investigate!
MFE Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
