pilbara fe jnr due for a rerating ?

Seems this one is a no brainer with a Mcap of only $7.1M (undiluted) at time of writing. I calc'ed the estimated EV (enterprise value) of around $2.5m!!

Pilbara Fe explorer which owns 51% (in JV with Cazaly)of the following:-

X. Target of 400mt @ 54-56% Fe

X. Current Jorc 241.6mt @ 54.3 % Fe.

X. Resource Open at depth and along stike to the NW

X. Unexplored northern tenement adjoining FMG Solomon deposit

X. Has option to acquire remaining 49% from Cazaly.

X. Estimated cash at around $3.75m recently raised $3m in JV farm in Deal with Chinese PXSteel International (ranked 34th in China's "Top Private enterprises") and had cash of $756k in Jan 25 Qtr

X. In the right neighbourhood (Neighbours such as FMG RIO and FMS (FMS under takeover for $554m with Jorc Approx 917mt @ 55% fe)

X. Gravity Targets outside current jorc area unexplored

X Rail planned by FMG right next door Solomon Tenement and 30-40km from Rio existing rail.

x Already received an unsolicited takeover bid in November from Dempsey Minerals (Bid was rejected).



All is IMHO, Do your own research to confirm.