I just spoke with Tony Alvarez. It was a very good conversation. You are correct by communicating with the CEO that HYII is almost there. The intellectual property/environmental declaration has been with FCCSI until May, when it was reassigned to a newly formed All Grade Chilean subsidiary. Mr. Alvarez went onto say that iron ore in the ground values out at about $4/ton when presented to institutional investors and banks. Thats what they use to get financing. So whats going on right now is they have had a magnetic study done on the land which shows the 40M tons, but the magnetic approach is only good for about 80M deep. They now are about to drill some small holes on the land to see if it goes even deeper, and to see where they need to set up the roads for the project. They don't want to build a road and then have to do it again, so the drilling will confirm the infastructure. I would expect updates here shortly.
Penny Stock Analyst, not licensed, but may as well be...
