Gina Rinehart`s mining arm has recently spent USD120mil on acquiring a 49% stake in 6 parcels of land in northern Ecuador. Govt owned mining company will hold the other 51%. This latest purchase is in addition to their existing holdings in the country. This once again demonstrates how undervalued TTM is in the market place. We have a 3mil oz proven gold resource (and growing) along with numerous copper prospects. When combined with the strong gold price which has today broken out above key resistance at USD2075, we are long overdue a re-rating with market cap of only $37mil.To say we are a takeover target is an understatement. A merger with our Dynasty neighbour STM would also make sense.This would create an exploration/development company with probably the largest landholding in Ecuador. This would attract the attention of the big end of town and simplify the raising of capital.( Just a thought)
TTM Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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