best value iocg play on asx

Enterprise value NEGATIVE $7 million.

Copper, zinc, IOCG in NSW; Iron in SA

13c
$38 million cap
$45 million cash
No debt

CEO is Ben Hammond, former iron ore and coal geologist from BHP.

Pricewise what we have here is a NONUPLE BOTTOM!! That's 9 tests of support at 12c... it arent going any lower!

Ultra low volume selldown into EOFY tax loss selling... someone just forgot to tell CXM that its allowed to go back up after July 1st!

During the selldown, money has been flowing into the stock, not out of it - check money flow index.

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PROJECTS:

Goulburn Base Metals - within Lachlan Fold Belt, enormous IP and gravity anomaly 65% Centrex, JV with Shandong who will earn 35% by sole funding a $2 million drilling program to commence immediately after government approval, expected shortly.

The JV also gives clear funding path to production should an economic discovery be made.
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Gundaroo IOCG - 281km2 permit near Gundaroo within Lachlan Fold Belt... the Frogmore fault runs directly through it.
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Eyre Magnetite - JORC of 681 million tonnes magnetite, JV with Wisco who paid Centrex $78 million cash for 60% of the project... implying a value of $59 million for Centrex's share of this project alone.
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Bungalow Magnetite - JORC of 338 million tonnes magnetite, JV Baotou Iron & Steel to earn up 50% by spending $40 million in exploration. So far Baotou have spent $24 million for a 30% interest.
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Port Spencer - 100% Centrex... Port Spencer is a planned 20 million tonne per annum deep-water port... initial $4 million of development costs funded by Wisco to earn 50%.

Major project status approval expected within 3 months, will include a desalination plant, storage, dewatering circuits, slurry pipeline and processing facilities for magnetite concentrate.
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Kimba Gap Magnetite - Centrex 100%, encompasses an outcropping 4.6km banded iron formation extending onto an Arrium tenement, CXM has a dual tenancy agreement with Arrium for the rights to that portion.
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Wilgerup DSO Hematite - 13.3 million tonne indicated resource at 58% iron, with mining approvals already in place.