IOH 0.00% 70.0¢ iron ore holdings limited

tomorrow's deadline

  1. 2,044 Posts.
    lightbulb Created with Sketch. 209
    From the weekend AFR - Street Talk.

    "IOH has had significant exploration success at its Iron Valley deposit, with drilling extending the known mineralisation down dip to 300m below the surface - 100m below the base of the previously known mineralisation.

    Importantly, this is outside the current JORC resource envelope, which includes mineralisation to a maximum depth of 200m. Basically this means the new mineralisation points to scope for a significant resource upgrade.

    In essence, the drilling was designed to test a theory that the reason the mineralisation seemed to end suddenly was that there was a fault line which caused it to break off and relocate in a deeper position.

    These results support that theory, suggesting there is a whole lot more mineralisation to be added to the resource estimate.

    This, in turn, is important because December 15 is the deadline for IOH to complete its deal with Rio. Under that proposed deal, Rio will get an exclusive right to negotiate the purchase of Iron Valley with IOH. Any agreement will then be subject to IOH shareholder approval.

    Ends.

    Big day tomorrow.

    Maybe an early Trading Halt pending the news? Or an after hours announcement?

    Can't wait......

    Cheers,
    Mac
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.