YM 130m free shares is the answer. I guess 13c, make that 11c now, is still good money if they cost you nothing.
May turn around once the drilling at Gabanintha starts in a few days. The price doesn't suggest a deal any time soon though.
Picked up a few today just in case they get their act together. A resource of 92.5mt @ .081% V2O5, 9.81% TiO2 & 51.2% fe2O3 must be worth more than the current m/c of $16m at 11c. Management put an in-situ mineral resource value of $15b on Gabinintha back in Dec 2005. The resource is now 3 times larger than then and about to be drilled again so worth the risk at these prices.
YM 130m free shares is the answer. I guess 13c, make that 11c...
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