UKwoody, thanks for your input.
That there is a long way to go is evidenced by management's failure to find a cornerstone investor with real financial muscle and iron ore or steel project development and operating experience. Presumably that was the brief given to Canaccord a way back. Nothing happened until Diversified Metals Holdings - which ticks none of the boxes - appeared. It would seem companies with operational know-how and deep pockets were not interested.
Perhaps the newly acquired WA leases can produce the cash required to fund the initial stages of the Nigerian project, but I imagine - unless much of the profit is given to a mining contractor - bringing those leases into production will require a fair chunk of capital. Will the Board enlighten shareholders when it provides its September update?
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3.9¢ |
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Mkt cap ! $140.3M |
Open | High | Low | Value | Volume |
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---|---|---|
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3 | 885140 | 0.037 |
3 | 111109 | 0.036 |
7 | 1028370 | 0.035 |
4 | 708598 | 0.034 |
Price($) | Vol. | No. |
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0.041 | 1374626 | 4 |
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