The lithium results are just part of this play. They have a minerals sands project due to commence construction early 2010 that could spin off $25mil to $30mil EBITDA; the 30% of Mt Webber iron project will be clawed back from AGO IMHO and could also generate $30.0mil EBITDA within a couple of years; not to mention the Liberator uranium and also uranium ground next door to THX Thunderball project(THX now capped at $100m); also good exploration targets for lead/zinc on Shoobridge; more Lithium at Finniss; the Tabalong coal project. Has been undervalued for some time so hopefully will now start to get some recognition. News on activities and progress has been slow and boring in the past six months, but hopefully todays announcement is a sign of things to come. A bargain IMHO.
HDN Price at posting:
25.2¢ Sentiment: None Disclosure: Held
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