Another broker update from Guy Collison of Taylor Collison Ltd this week who have followed this story for quite a while...
Snippetts.. I met with management on Friday in Perth and am even more confident about the massive potential this company has. I expect we will see good news flow in coming months including more broker presentations and metallurgy reports. Now that the JORC is out, marketing can be done more thoroughly. I expect the big interest in the company to come out of the UK where funds better understand the African mining markets. The thing which differentiates the company from other iron ore plays is the sheer scale. It is highly likely this will be a multi billion tonne asset. This puts them on the radar of the worlds biggest miners. It will be a strategic asset. The current market cap. of around $70m in my view, significantly undervalues this project.
EIO Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
