IOCG

IOCG doesn't mean anything to you? Well, the world's biggest deposit of uranium is found within an IOCGU deposit at Olympic Dam. But it isn't the only one around that area. WMC (taken over by BHP) found one at the last drilling on that site along time ago. It was also very deep, therefore, very expensive to find.

Since that, there has been another site (Carapeteena) discovered but taken over by a big brother. That was a private enterprise. It made the Australian Filipino geologist very rich but he was rewarded for his persistence.

Now, there are another 2 stocks in my ownership that have big prospective deposits. One is TAS, with RIO backing it. And now TRF has announced that it has found a big deposit too. There are others there too. BHP is already there.

TAS is now break even for me. I recently topped up at 11.5c in Jan/Feb 2012. It is now 15c.

These two stocks have unpredictable short term course but in the longer term, if the expensive and deep drilling confirms the existence of IOCG deposit, then both will be more than a 10-bagger. You have to be very patient though as this type of drilling takes a long time to materialize (due to special rig required and the duration of the drilling). Of course, if nothing is found and it was a false positive during earlier surveys. Interesting that Australia hosts the most numbers of this type of deposit in the world.

http://www.pir.sa.gov.au/__data/assets/pdf_file/0005/104198/Baker_Tim.pdf