If this sharp and sudden change in iron ore prices can be sustained, it will mean a broader tend (recovery?) has begun for the whole of the mining sector, to include explorers as well.

"The iron ore price has now recovered more than 22% since hitting record lows at the beginning of April. A more than 20% appreciation from a low is considered a bull market."

Read the whole story here. http://www.mining.com/iron-ore-price-soars-again/

Looks like the most recent "stimulus" in China is working. Hope it lasts.