the share price is heavily discounted, expecting some sort of dilution isn't it. but out of the entire 70 iron ore stocks, this one has the lowest capex. everyone else e.g. umc have to build some rail. in the current environment this costs hundreds of millions of dollars. some are dependent on bhp e.g. frs. some just have a couple of rock chips(FMS????) and are dependent on rail lines which simply do not exist
bci for my money.
scoping study completed and drilling commenced, page-11
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