Ixr 49 mil mc Sp 12.5 13 mil in cash and 4.6 mil in unx shares Estimated profit this year 26 mil Monthly free cash flow 2.2 mil Iron ore miner in South aus cairn hill. Nickel graphite, copper and gold tenement in Tanzania Jorc nickel in Tanzania last results include 16.3% Ni and .8% copper. Describe in RCR latest research as a globally significant Nickel sulphiide project. Rcr report released 2 days ago values at 60% discount 38 cents Worth a read. Nickle sulphide trend 8km x 3km Spent 12 mil last year on exploration Intends to spend 18 mil this drilling season in tanzania Has a 1 bil tonne iron ore project looking for jv with azure capital giving corporate advice. Jv with ozl, oz spending 20 mil for 51%. Has done pea study on Tanzania and costs are Ni us$5 a pound. For a 15 year mine life at 15,000 tonne a year. Jorc upgrade expected on Tanzania in 2 months 12000 m of end of season drilling due around a week.
Downside is cairn hill has a shelf life of another 3 years, but drilling is about to start soon, to extend mine life. The kicker is the results due in 2 weeks after last results it went to 18.5 cents and drilling was in the same area. Got me stumped if rxl had come up with the 3m of 16% nickel it would be 30 cents. Let alone it is self funding a massive program trying to get the nickel up in 2015.
But the kicker for short term is the results due in around a week. Well worth a look on the rcr web site to read the independent analysts report. I hold.
