"On a value basis how does PSP compare to say GDA`s iron...

"On a value basis how does PSP compare to say GDA`s iron project?"

hi Tokyo

Really hard to compare.

GDA is a 10-30mt and only getting a 20% cut of the finding with CAZ getting the 80%.

Also GDA's tenement is magnetite , the poorer of the iron types, which needs benefication before it is sold off.

Hematite is superior and (wanted) more so by the chinese.

10-30mt magnetite compared to a perhaps 100mt (PSP's 60% cut) is really poles apart in every sense.

100mt is a third of what FDL are hoping for, their MC is already $120 mill, PSP is $14 mill........big difference

if PSP can prove up say 160mt and take 60% or around 100mt, then the MC would have to be $100 mill at an absolute minimum ($10mt)or about 8 x the current share price.

Thats an 800% return on current share price.

There are of course infrastructure cost which I haven't worked out or found out how close they are to their tenement so my prices are indicative only at this point.

I also noticed there are some options with an ex price of 20c in May........I would assume the company wish to see these in the money.

I can see the SP easily over 20c in the week or 2.

Target price if they find 150-170mt over the 2 tenements......about 80c-90c per share minimum.......again I will do some more research over the weekend to get my figures as accur5ate as possible.


Cheers