Extremely cheap at under 50c... Sydney - Tuesday - December 6:...

Extremely cheap at under 50c...

Sydney - Tuesday - December 6: (RWE Aust Business News) - Midwest
Corp Ltd (ASX:MIS), Murchison Metals Ltd (ASX:MMX) and Gindablie Metals
Ltd (ASX:GBG) have formed the Geraldton Iron Ore Alliance to cooperate in
the development of the industry in the Geraldton region, the most active
iron ore provinces in Australia outside of the Pilbara.
Former Western Australian state development minister Clive Brown
is independant chairman of the alliance.
He said the region could be producing 50-60mtpa of iron ore and
carbon steel related minerals within a decade.
The foundation members will, inter alia, liase with government,
industry groups, communities and non-government organisations on issues
of infrastructure, regional development and community relations.
They will promote the development of common user and other
infrastructure and work with all stakeholders in the region to optimise
the existing infrastructure.
All three are actively developing their stage one projects or
proving up larger second stage projects.
"While all the companies in the group have different development
strategies, they all recognise the benefits in promoting appropriate
common-user infrastructure such as the Oakajee Port and in working
closely and cooperatively with all stakeholders in the region," Mr Brown
said.
Resources development employs approximately 15pc of the region's
working population.
Murchison Metals shares were down 1c to 37.5c, Gindalbie down 1c
to 27.5c and Midwest up 0.5c to 56c.