WFE (ASX) Ann: Winmar to raise $1.44m via Placement and Rights Issue

Originally posted by choco ↑

I think its worth way more when you take into account the current iron price of $US90/ $AUS 125 for delivery to Quingdo Port ( 62% fe). If you look at the old Winmar report from April 2014 which Maigret1 kindly pointed out in a previous post when the Iron Ore price was similar scale and then comparative value of similar Fe% mines of Iron Ore Holdings which had 57-58% fe and was taken over by BC iron the value of the ore in the ground was around $1.05 per tonne. So using similar values to the Winmar deposit of indicated tonnage 30m-343m this would give WFE a potential value of $30m just for the ore deposit ( more if you look at basis of the potential of 343m t) and WFE owns 70% of the holding with CAZ being diluted out. I am missing something here that this one most undervalued iron ore holdings stocks on the asx? Also take into the fact that its in the prime hammersley iron ore belt near rail infrastructure and major ore mines of Fortescue and RIO.
Why no decent offers yet? Patience and marketing by management is the key and hopefully management can see a higher value than just $10m. Anything less us shareholders would have to vote against it because it would be giving it away. This of course would skyrocket the share price to 0.02+ back to its true value and give us the cash for the 50% equity for the capex loan facility to have Lomero churning out the 80,000 gold ounces per year, let alone what Rod Sainty finds extra in these drills for an 1m oz+ gold reserve.
With the iron ore price currently being ramped up by Chinese Speculators now is the time to get the market knowing about the premium piece of iron ore land and ask for bidders, because I think this has gone way under the radar for buyers of iron ore tenements and this bullish short term run for iron ore can fade really quickly and retract to the $70-$80 per ton mark

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at this stage, we dont know what the Low ball offer wfe received last year...

also, as MD, Rod is on site to oversee the Lomoro drilling so obviously it is the Priority 1 task for him to do.

as for iron ore, it might be some interest out there but WFE might wanna get Lomoero hit goods first and Iron ore follow closely...

$10m is the minimum figure i put here simply while compared with our MC(which i am bit annoyed when thinking why the MC is lacking interest and only the IRON ore assets alone can worth much more than its MC)

it seems WFE has plan for its IRON ore so the mention and photos in the last investor presenations so it might be super news from there and here once 3B issued....

sit tight...