Poly:1) They were initially targeting magnetite with PSP.Initial...

Poly:

1) They were initially targeting magnetite with PSP.

Initial targets were for 40-50mt magnetite. I looked at grades just then. Some are ok. 53-58% so low grade haemitite.

This is a small and speculative resource. Low prob of sucess.

2) Plus, they are the MINOR party. They're only getting 40%

They seem to farm everything out to everyone else.

3) Copper project in Democratic Republic of Congo...Sadly, as bad as Sudan. High High Risk. Little chance of funding. Will probably sell to government for pitance.

4) Buy depth is proped up and fake. I had a glance at this late last week - on fri i think.

There were no orders on screen.

If they were genuine, (which I doubt) they would not be so big and would not be so far below price. You dont buy like that. They are props. They make the stock look deceivably strong.

I don not believe there is a sudden "interest" in rock chip samples. That sounds like a IRM, GNL beat up. Everyone is saying that about any Fe play at the moment. Few hold. Most who traded GNL have been burnt anyway.


5) On the positive side, the magnetite project with ACS will yield 150+ of high grade magnetite. >45% grades is boderline haemitite.

But, MWE only are the 20% minor party. ACS the 80%

I MUCH prefer ACS.

They have this Mount Gibson magnetite project and a HAEMITITE/VANADIUM project right next to PLA grounds.

Thats an asset of interest if 50-100mt+ of high grade haemitite can be discovered


Bottom line: This is one of the more high risk, speculative, got nothing really FE plays out there. There riding off the iron ore craze. Dont know if they have enough to last.


Good luck though!