Brussels, Belgium, January 06, 2010 --(PR.com
)-- Iron Ore Holdings (ASX:IOH) is the winner, the number one, of the Caesars Report Mining Top 25 for 2010. The Iron Valley project is a gigantic high-grade deposit, containing 191Mt of Iron Ore at 59% Fe. Iron Ore Holdings is surrounded by the three major Iron Ore players BHP Billiton (ASX:BHP), Rio Tinto (ASX:RIO) and Fortesque (ASX:FMG). Rio has acquired the right to make an offer for Iron Valley within the next six months. As BHP Billiton offered 1.20AUD/tonne Iron Ore to acquire United Minerals (ASX:UMC) it is plausible that this is the target price to pay for other acquisitions. Based on those valuations, Iron Valley is currently worth 230M AUD. But if the drill results on the newly discovered ore zone are somewhat positive, the current 191M tonnes resource estimate may swiftly be upped towards the 250M tonnes mark. (for the main catalysts for 2010 and more: see the full report at www.caesarsreport.com)
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Disclosure: The author holds a long position in Iron Ore Holdings. This means that the author is biased. Please, always do your own research.
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