- The resource is huge - maybe upto 2 Billion tonnes
- The top 20% shareholders control 56% of stock (maybe more after options are excercised. This eliminates the risk of cheap takeover
- The resource is open pit and shallow - compares very favourably with existing producers (I mean cost of extraction wise)
- We are close to the user markets
- The chairman has considerable experience in starting mines
We are at a similiar stage what FMG was about 6 years back and my gut feeling is that we will catch up with FMG (shareprice wise) in next 2 to 3 years. Stay tuned - we have just started the marathon and already taken a substantial lead over our nearest rivals.
STB Price at posting:
$4.15 Sentiment: LT Buy Disclosure: Held