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[QUOTE]Originally posted by Zeker: [QB] The coming week should be huge for this company. By their own accounts, their Mindoro Island magnetite iron ore deposits are worth nearly $6,000,000,000 at current prices. On February 25th, their contract team and top officials will be meeting in Las Vegas with management representatives from Daye Steel of the People's Republic of China in order to finalize negotiations and contract terms and conditions for the sale of up to 3,600,000 dry metric tons of iron ore to Daye Steel. The Ore Products will be sold at an estimated contract value of $172,800,000. That's a lot of business for a penny stock- especially one that‘s currently trading at just .0004 a share with a market capacity of under $163,000. What is no less significant about this, is that due to the high quality of the ore, a stationary processing plant is not needed. Instead, the ore can simply be crushed, screened and magnetically cleaned on its way to the transport facility. This means that no money and time will need to be expended in the construction and up-keep of a stationary facility, and far less steps will be involed in getting hte product from mine to market (less venture money for construction, labor, specialized equipment, no bottle necks/ down time at the processing facility, less chances of accidents/mechanical failure, less maintenance, no need to lug the ore to a processing facility before re-lugging it to a transport facility, etc.) This could be compared to finding oil reserves of gasoline grade underground that don’t need to be refined first, but rather, can just be tanked or piped through screens on their way into holding facilities. Compared to tradition needs associated with mining, this lode must be very clean. [/QB][/QUOTE]
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