Iron Mountain, BHP, Fortescue Rise; Iron Ore Price to Soar 50% in 2008

And in the tenth month of 2007, the bull market brings forth Iron Mountain Mining, Ltd. (ASX:IRM) and sends its shares up 300% in one day.

 IRM was just one of many shares storming to new highs yesterday, as the ASX/200 made an all time intra-day high of 6,684. Iron Mountain announced high grade mineralisation at its Mt. Richardson iron project in West Australia. In its price-sensitive release to the ASX, the company said that “The Iron Mountain Prospect rock chip samples averaged 61.3% Iron (Fe) over two kilometers of strike.”

The company announced results from two-other drilling simples. Both indicated high-grade haematite iron mineralisation. Which is another way of saying….eureka! Except in this case, rather than finding real gold, Iron Mountain has found industrial gold…the raw material desired by Chinese steel mills.

And at the upper end of the share-market, Fortescue (ASX:FMG) and BHP (ASX:BHP) both continue their relentless climbs higher. Fortescue is now the 23rd largest company in Australia by market cap, despite the fact it has yet to deliver any product to customers or make a profit. The catalyst for yesterday’s 8% lurch higher was legal. BHP lost its appeal against a ruling that allows Fortescue access to BHP’s Mt. Newman railway line in the Pilbara.

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Rio Tinto New: New one same as the old

Rio Tinto projects itself as a responsible cooperate world citizen.
But it has an impressive history of human rights abbuses, and environmental pollution dissasters.

In its 2003 Human rights declaration it states that they work according to the internation declaration of human rights, but according to Amnesty UK the abuse still goes on. Read about it here  

KASM fundraising day 20th of August

Put August 20^th in your agenda.

As the news that a an exclusive two-year permit to prospect over 3393sq km from Separation Point to Kahurangi Point on the West Coast has been issued to Bonaparte Diamond Mines shocks us we reach out to you to help us fight the proposed wanton destruction of our vulnerable foreshore ecosystems. 

KASM organizes a fundraising day in and around the Te Uku memorial hall on Saturday 20^th August,and invites everybody who wants to help KASM, to hire a parking space for your car booth sale or a market stall to help make this a fun(d)raising day. 

There will be music and food but be quick to book because this will be your chance to make a buck as well as support your favourite anti-seabed mining group. 

We are also looking for people who will make this an unforgettable day in other ways. 

• We need people who want to help organise the day.
• We want people who have something special to offer in the entertainment department. (music, jugglers, clowns)
• And we want people to donate items that can be sold of at auction.

But what we want most is lots of people to come and have a good day.

   For more information check the advertisement in the personals. 

You can also contact Nora at: 07-8255050  

Scientific Studies from around the world on the erosion resulting from offshore sand and gravel dredging

We received this link about the erosion resulting from offshore sand and gravel dredging from our very own Vera, and it is a link wel worth reading.

Scientific Studies from around the world on the erosion resulting from offshore sand and gravel dredging

Dent in the profits?

Well this should put a dent in the profits if it comes to mining.

Who'se going to pay for the resanding of our beaches?