Easy maths for anyone who hasnt followed the company as closely as i have
IPO listed heavily backed on 50mt at Inhambane right next door to RIO Tier1.. since then it now has expanded 91mt with the metallurgical result due and a $7.5bill port and rail facility given the green light being built in the area immediately
It also listed with Port Gregroy looking at 170m tonnes at 46% garnet.. since then they have expanded the size of the initial target significantly and brought in 70% garnet and 10/20% Iliminite as well as significantly increasing the land package after discovering more resources next to current lease and still wait for 2000m of results outside initial target
Also we have had several substantial holder notices following every push into the 20s or any significant volume with all but one now averaging 20c to gain a position.
so pretty much the company is worth double what the subholders were willing to buy in at and especially after yesterdays blockbuster announcement still showing signs of heavy-handed capping and accumulation don't be surprised to see a significant breakout post yesterday's news.
A lot of people ( including subholders ) were a little surprised at yesterdays action, which tells me as of yet we have plenty of players involved here that are not listed as subholders
The screws are tightening day by day on this nicely placed stock
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Easy maths for anyone who hasnt followed the company as closely...
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