Working on a what its worth concept.
CFE was offered $400M for their Magnetite project which was 1.56 billion tonnes grading 31.2% Fe.
MXR have Vanadium credits on top of this, and a bigger target from just block 1. 5 targets in the small area identified. They have Gold, Uranium, Nickel and PGE targets.
Looking at the "worth" of just block 1 once JORCed up... $400M value gives $2 a share value.
Approx 200M shares fully dulited. NTA of 13c a share, plus 6c oppies cash (from converted options)
Gives $2 + 13c + 6c = $2.19.
$2.19 target ignoring the vanadium and 4 other nearby targets, and all other projects and prospects...
Seems to me a longer term value around the $2-$4....
share price target 2 to 4 bucks
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