Time to get record straight:
1. People often forget about the 30% free carrying interests in JV with CNI. It worth at least $44m
2. Added it, you get about -$20m EV
3. CAIRN Hill project is not too bad at current iron ore price. The simply processed products is about 75%Fe eqv. Imaging 30% price hike this year!(The number that the Chinese are prepared to pay)
4. The JV with Lonmin on PGM project will produce some news soon.
On the downside, the HOA is not bind contract, 85c/share placement is still up in the air. Chinese has history to let it go easily (MLM, NUF, etc). But I believe the free option might be expired as soon as 30% hike of benchmark iron contract price!
a valuation model fyi, page-44
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $29.21M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $26.72K | 4.441M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 41 | 30298921 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 6531832 | 17 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| IXR (ASX) Chart |