Desert Resources Pty Ltd, page-7

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really

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07/05/18

16:42

Post #: 32934559
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Originally posted by red-frog ↑

I was a holder from 2003-2014, was lucky enough to get out during the $6b funding fiasco but some family and friends still hold.

I reckon ANS may end up buying Sino's iron ore prospects near Telecom Hill that cost Sino about $1.4b in the t/o of Midwest Metals. From what I understand, Sino have all but given up on the iron ore as they bought it for the hematite mainly and didn't find as much as they expected, though the area still contains quite a lot of magnetite.

Imo ANS will probably do a deal with Sino one day as there was still 55mt of hematite on Sino's land, which when added to the 10mt held by ANS could be a near term money maker if they have somewhere to truck or rail it to.

55mt wasn't enough for Sino so they closed down their exploration camps on Padbury Station. They intended to remove the dongas on the Narracoota part of the station and disconnected the plumbing in preparation to remove the dongas in 2015, but the dongas were still there last time I was out that way in November.

ANS must be out there now or planning to go out to Mt Padbury soon as I was talking to the station owner last week and he said ANS had informed him recently they were heading back out.

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Interesting- (Congrats on a well timed exit BTW)

Still as long time holder they can JORC up all they like. Until we get that Rail line on the go (Channel to market), not much can be done.

It would make sense to acquire the hematite rights from Sino - (nice to have more DSO).

Pretty sure if that's the thoughts then the dreaded share price consolidation would need to be on the cards.

This has been one very frustrating stock.

Do you remember a holder called Bungy? - (think he may have had numbers after his name)
he was really good at the analytics of ANS way back

Really -DYOR

Last edited by really: 07/05/18

ANS Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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Desert Resources Pty Ltd, page-7

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