EIO 3.57% 29.0¢ energio limited

iron ore project re-visited?

  1. 6,072 Posts.
    In my opinion this current project that EIO are contemplating is the same project that Black Fire Energy (now named Black Fire Minerals) ASX code BFE was looking at in May of 2008 and subsequently terminated the agreement in October 2008 with some notable exceptions.

    On 28 May 2008 the following announcement was made by BFE

    Acquisition of iron ore projects, Kogi State, Nigeria

    On 8 November 2010 the following announcement was made by EIO

    Option over iron ore licences - Clearer copy

    Notice that most of the content is exactly the same, few additions, deletions, nice outdated pictures, re-formatting but essentially the same except the major difference I noticed was that 2 and a half years ago via Black Fire Energy "the Company's exploration target is 400-600m tonnes of potential iron mineralisation grading between 15-65% averaging 30-36%" and now via EIO it is "an exploration target of 1 billion - 2 billion tonnes of potential iron ore mineralisation grading a minimum of 30% Fe"

    The other differences I'm sure you can see for yourself, not too many? Just remember, I'm a giver of information, what you do with it is up to you.

    Maybe TGP have spent money since to change the target? It's a big increase isn't it?

    Anyway, I like to share info. Good and bad. make your own judgement, maybe they will be successful but lay the cards on the table please.


    Disclaimer: This is not investment advice just my opinion from my own personal research. I do not endorse or take responsibility for material in the hyper-linked sites. I further do not place a price target.
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