I disagree, because if it takes several years to develop... in the mean time you still need to pay director fees by capital raising at 2c range. Midwest Geraldton project will take at least 10 years... look at PDY with several billion shares on issue. Another 10 years waiting = several trillion shares on issue.
A few years ago I posted on PDY saying how many billion more shares PDY will be issuing (PDY unlimited not limited). Then this stupid hotcopper blocked by post. Now I'm 100% correct. Now PDY will need to issue shares at 0.1c (yes, 0.1c).
You're forgetting that big players like BHP, Vale, RIO, FMG they will increase product with increasing iron ore demand. You have to measure nett demand (ie. minus increase supply).
Don't forget several years later, it is not the same money (ie your investment gone down and worth less due to inflation).
LCG Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held
