Page 12 of the annual report released today, talking about Murga.
"An average thickness of 15 metres has been assumed along with a default density of 2.15t/m3 . However, it is unknown at this stage if the whole outlined area will have reasonable prospects for eventual extraction so it has been assumed that only 50% of the area within the pyroxenite outline will be classified as the Exploration Target. The Exploration Target for the broader Murga area is: 100 to 200Mt at 100 to 200ppm Sc"
Now if we even got half of this in a JORC MRE, the project is the largest Sc in the world by a considerable margin and would warrant a valuation in the billions. This is why, ladies and gentlemen, the battle for control is taking place as the stakes are extremely high. I would not be selling this stock for quid's and it's a good reason to buy some more at these prices. We will probably laugh at how cheap 5 cents was in 12 months' time.
RIM Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
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