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Fortescue soars on massive ore discovery

Clipped to the Drawing Board by jackson Browne

Shares in Fortescue Metals Group have rocketed higher after engineers in the company said it had made a massive new iron ore discovery in the Pilbara region in Western Australia.

The stock was up 20.3 per cent or $10.47 to $62 at 2.15pm, after marking an intraday high of $64.99.

Shares surged after the company announced a massive new iron ore discovery in the Pilbara region in Western Australia.

The explorer found iron ore totalling more than one billion tonnes in the Serenity area, which makes up the western one-third of its Solomon Project area.

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Friday 16 November, 2007 02:04 AM

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