Interesting little iron ore company based in NSW, yep just outside broken hill. Due to the high tonnage a good part of iron ore development is the logistics as much as the potential ore deposit itself.
CAP seem to have found a moderate grade and size mag deposit which is not that unique or exciting really, the potential exists in that they are just 30kms to rail (which is not owned by BHP, RIO or FMG) and the same distance to the national highway numero 1, and the power grid.
A big advantage over most players with similar or much better defined resources. Needs further drilling to prove up and deeper pockets for mag plant but potential is there for developement. Took a small position recently.
CAP has A$3M cash and EV of A$3M, so silly cheap. Some hidden coal value as well. Steady accumulation on chart.
CAP Price at posting:
10.4¢ Sentiment: Hold Disclosure: Held
