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Thursday, July 14, 2011

Iron Ore Stocks Trading Alert; LCY, TRKP, FXPO, FEO

Point Roberts WA - July 14, 2011 (Investorideas.com Mining Newswire) – www.Investorideas.com, a leader in sector research for investors including mining and resource stocks, issues a trading alert for iron ore stocks, for the close of July 13th.
TurkPower Corporation (OTCBB: TRKP) traded up to $0.35 during the day. On Jul 05, 2011, the company announced the purchase of 50.09% working interest in Maksor Madencilik Sanayi Ve Ticaret Anonim Sirketi (hereafter "Maksor"), the 100% private owner of the Kuluncak iron ore project in Turkey.
In a recent Q&A, Ryan E. Hart, Executive Chairman of TurkPower Corporation (OTCBB: TRKP), noted With the purchase of controlling interest in the operational Kuluncak iron ore mine, TurkPower is taking its first step toward its goal of becoming a leading junior mining company in Turkey. The purchase adds a tangible and operational asset to the Company's balance sheet and leads to expected profitability in 2011. It also gives the Company leverage and credibility for future mining ventures and acquisitions in the booming mining industry of Turkey.”
Legacy Iron Ore (ASX: LCY) has progressed initial discussions with National Mineral Development Corporation Limited (NMDC), a Government of India state owned public enterprise to meetings in Perth with Legacy.
In June, Legacy defined a maiden JORC compliant Inferred Resource at Mt Bevan Iron Ore project of 617 million tonnes at 32.1% Iron.
Shares of LCY soared 11.70% to $0.105.
FERREXPO (LSE: FXPO.L) closed with a gain of 4.28% to $470.70. Last week, the company said that iron ore production in the second quarter fell 2.5% from the year earlier, taking output for the year down 2.1%.
OCEANIC IRON ORE CORP (TSXV: FEO.V ) gained over 6% to $0.44 after it hosted a total of 9 institutional analysts and shareholders at the Company's inaugural site visit, which took place on July 6 and 7th, 2011.
Iron Ore Stocks Snapshot:
  • Cazaly Resources Limited (ASX: CAZ) surged 2.86% to $0.36.
  • Eastern Iron Limited (ASX: EFE) ended the day with a gain of 30% at $0.13.
  • Mechel OAO (ADR) (NYSE:MTL) jumped 3.84% to $24.62.
  • Australasian Resources Ltd. (ASX: ARH) ended the day with a gain of 2.38% to $0.215.
  • TurkPower Corporation (OTCBB: TRKP)
Showcase Iron Ore Stock:
TurkPower Corporation (OTCBB:TRKP) is a Turkish-American junior mining company that is acquiring controlling ownership in an operational iron ore mine and several mining projects under development in Turkey. TurkPower's sole focus is on the booming Turkish mining industry, where it aims to become a leader in developing, operating and owning base metal mines by acquiring and consolidating operational mines with proven reserves, utilizing economies of scale to increase returns as well as developing new mining assets. TurkPower's board of directors, management team and employees have extensive experience and relations in the Turkish mining industry, as well as ongoing relations with the relevant government agencies, allowing TurkPower to participate in the major opportunities currently developing in Turkey.
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