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News did not go over that well!!!

Almost 1.5 billion shares out there and another 321 million oppies for 2cents in Nov....

if they are taken up??????

That will be a whole lot of shares eh!!

Not what some expected today so far.


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In reply to: aberline on Friday 09/05/08 07:45pm


Well a bit disappointing, however a MOU does not prove an asset or contract, but only indicates that work is in progress. After due diligence in 10 weeks and acceptance to proceed is completed,then progress is started and speculation will start building. After 6 mths if all goes well, probably take longer,then the sp has something to build on. If the market was bullish to-day's price would have moved positively. Speculative money has not returned to the market.


Just a guess






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In reply to: camaybay on Friday 23/05/08 08:47pm

Hi All,


I spoke with the CFR team today and they confirmed the following:


* They currently have two tin assay results and are waiting on the remaining assay results (which are overdue and they are expecting shortly) before releasing details to the market

* Interested in fast tracking the iron ore joint venture agreement!

* Once they confirm their involvement this will open the doors to other projects in India

* India has a huge demand for iron ore which enables a quick turn around time on licensing requirements, also no need to freight iron ore to China

* Management are travelling to India in July

* 6 weeks to go before a decision needs to be made regarding iron ore project




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In reply to: Pub Lunch Man on Tuesday 17/06/08 06:45pm




long time between drinks, thanks for the news. Seems that mmt is willing to inform, informally that it. http://www.sharescene.com/html/emoticons/wink.gif the price has been stable all things being considered. See NSL slowly gaining.



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In reply to: camaybay on Tuesday 17/06/08 10:42pm

Hi camaybay,


I have found an interesting article which highlights the magnitude of CFR's proposed iron ore JV:


"Karnataka is endowed with rich deposits of iron ores; with approximately 9.03 billion tonnes or about 41% of IndiaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s estimated total haematitic and magnetitic iron ore resources (Table 1)."




I couldn't help but do the math on CFR's proposed lease:


1 acre = 4046.86 m2

CFR's 2500 acres = 10117150 m2

10117150 m2 = 10.12 km2


Karnataka region = 191,791 km2

CFR's proposed lease = 5.28% of Karnataka region


Karnataka region iron ore resource = 9.03 billion tonnes

As an average CFR's proposed iron ore resource = potentially 476.784 million tonnes


I also found the following quote regarding the Karnataka region:


"Wherever you stretch your eyes, you see ore," says B. Chidamber, a retired engineer from the Karnataka Department of Mines and Geology (DMG). "It's all ore. No dust at all. Just blast it, load it."




This will be a long term hold for me... http://www.sharescene.com/html/emoticons/lmaosmiley.gif




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QUOTE (Pub Lunch Man @ Sunday 22/06/08 02:49pm)




Good research, hope DD goes well , would be a good Chrissy present! http://www.sharescene.com/html/emoticons/biggrin.gif


from the blog


3. Supergene enriched iron ores: Weathering, alteration and enrichment of Precambrian BIFs under surface conditions during Tertiary and Quaternary periods have produced abundant haematite rich supergene iron ores especially in Sandur and Chitradurga schist belts. These ores are friable, powdery and easily extractable form and contain 62 to 68 % Fe. These are the most preferred iron ores at present in domestic as well as export markets.


From CLF


Four Iron Ore Mining Lease Applications, near Chitradurga in the Indian State of Karnataka, are the subject of a Memorandum of Understanding between Cluff Resources Pacific NL and Sai Construction, Engineers and Contractors, of Bangalore, India.


The interests of Cluff in the proposed venture will be held by Cluff's 71% owned subsidiary, Elephant Gold Pty Limited. The 29% is held by consultants to and associates of Cluff.

The MOU makes provision for the establishment of a Joint Venture Company, Karnataka Iron Ore Mining Pte Limited, in which the shares will be held in the proportion Elephant Gold Pty Ltd 60%, Sai Constructions 40%.


See that lease applications amount to 2500 acres, I hope they are on the right side of the track, although it seems the stuff is everywhere!




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