Market putting no value on Apurimac iron either . Perhaps in the next resource boom SRK will get a bit more love?
In mid 2008 Strike Resources' share price traded as high as $2.80, but in the past 12 months it has traded as low as 25¢. Its core asset is its Apurimac iron ore project in Peru. Despite the fact that resources stocks were being battered in 2008, analysts at Bell Potter had a 12-month price target of $2.18 on Strike Resources. Their high expectations regarding the company were based on the quality of the Apurimac asset, particularly with regard to the high-grade iron ore and the potential for the establishment of a long life/low cost project. However, in the course of completing the Pre-Feasibility Study a dispute between Peruvian company, Apurimac Ferrum S.A. and its shareholders (a company in which Strike Resources holds an interest) resulted in exploration and development activities being halted. The dispute has been resolved, and subsequent changes should pave the way for an accelerated development programme. There has been significant corporate interest in the Apurimac project. In July 2008, Russian investment company Gallagher Holdings invested approximately $100 million at $2.75 a share https://www.copyright link/politics/strike-resources-srk-20091001-jn8lm
SRK Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
