g’day rooks.
what did you base your investment in SCN on?they only own 30% of the JV. Market never gives anywhere near true value to minority interests like that. Even in a year or so, if they can fast track development (assuming decent grade/tons). SCN seem to be some way from developing the gold asset and will need more CR’s to keep going on that one.interesting, but I’m not sure where their upside will come from before large dilutive CR’s. I can see small ticks up on discovery of IO and maybe the feasibility. But not the multiples we saw with MRD/OB.
cheers,
ned.
Ann: SCN: Fenix Iron Ore JV Update - Pharos, page-23
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