FCR, Ferrum Crescent, listed on the AIM, ASX and JSE

Company website & fundamentals (you can't get them here!), http://www.ferrumcrescent.com

The Company's flagship project, the Moonlight Iron Ore Project, is located on three farms (Moonlight, Julietta and Gouda Fontein) in Limpopo Province, South Africa. It currently has a JORC compliant resource of 74Mt @ 33% Fe in the Indicated Resource category and 225Mt @ 29% Fe in the Inferred Resource category, which is situated entirely within the Moonlight farm. During the quarter, The Mineral Corporation Consultancy (Pty) Ltd ("The Mineral Corporation") was commissioned to carry out an updated JORC compliant resource estimate taking into account the results of the phase 3 drilling and assays on the Moonlight deposit ("the Report"). Phase 3 consisted of 11 holes totalling 990m of diamond core drilling and 13 holes totalling 1,600m of reverse circulation drilling (RC) drilling. It is anticipated that the Report, including the Julietta and Gouda Fontein exploration results and resource estimate, will be completed by Q3 2012. As a result of the appointment of a new mining adviser, the updated Moonlight Resource will be released by the end of Q1 2012. The Mineral Corporation is currently actively engaged in carrying out this part of its engagement.

The proposed drilling at the Julietta and Gouda Fontein farms adjacent to the Moonlight deposit, will seek to confirm the magnetite mineralisation previously drilled by South African Iron and Steel Industrial Corporation ("Iscor"). Iscor was the South African government-owned integrated iron and steel company which is now owned by ArcelorMittal. It is anticipated that upwards of 10,000m of drilling will be carried out, consisting of both RC and core drilling. The purpose of the drilling is to establish a total resource estimate for the deposit on all three farms. Planning for this drilling program is well advanced.

I first invested here when the company listed on the AIM at the end of 2010. I'm in at 11p. All was going well until the general downturn in the middle of 2011 when this stock was affected similarly to other AIM listed stocks. If anything the fundamentals have improved, stock is currently hovering around 4.5p-5p, now also listed on the JSE. ISAble, great long term prospects, the recovery starts here.