Hey @Viharerda, sorry - don't have any fresh insights into TLM.  I was interested in TLM back then because of their association with SFR (who bought the tenement containing the Monty copper-gold deposit/mine off Talisman) and I was a shareholder in TLM at that time, but got out after they paid the capital return and special dividend.  I was interested in Kerry H because of what he managed to achieve with Jubilee Mines, a nickel miner which got taken over by Xstrata (for over $3 billion).  Kerry built up Jubilee from basically nothing, so is worth following I think.  However I'm not interested in up-and-coming iron ore miners.  I think the boom prices for iron ore is temporary and I think the iron ore price normalises once we get an adequate supply response.  And I think Vale will get their production fully back online eventually which will give China more options to buy iron ore ex-Australia which I think they would appreciate since they are trying to screw us on every other front.  If I was going to invest in an iron ore miner, it would be MIN or FMG, or BHP if I also wanted exposure to BHP's other commodities.  I don't like RIO much.  I would only dabble in iron ore via those with the very lowest cost base, or via a company like Mineral Resources (MIN) who have proven to very adaptable, nimble and opportunistic - and can move in and out of commodities and remain profitable.  That's not to say that these other up-and-coming iron ore producers are going to be terrible investments.  Some could be great investments - for those who follow iron ore closely and can get in and out quickly.  The iron ore price could change direction very quickly, or correct very quickly if new data emerges to indicate that there is more supply coming online than previously expected.  I just don't follow iron ore closely enough to be comfortable investing in an iron ore miner.  I'd rather back a metal that isn't already booming, and has strong tailwinds behind it.  Copper comes to mind.  And gold.  That's just a personal preference though.  I don't follow TLM these days so can't really add value here.