Hi Elli, The best comparison, as has been stated by CEO Joe Philips, is Champion Iron Ore. They are producing the same product, similar quantities selling as part of an off-take agreement also with Glencore. The difference is that the price for them to get to operable mine was / will be less than us (this is an assumption as the cost of construction is unclear to me at this time) They bough existing infrastructure while we will be building new. Once operating and in debt repayment phase I don't see why we wouldn't be valued at or more than CIA as we such a huge reserve and a cheaper route to the Asian market. IMO With BFS and financing in place I expect we could see a mrkcp of $250M and once we move into mining somewhere close to $1.0B. depending on how construction financing looks. GLTA!
MIO Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
