I stand corrected i quote the words of the CEO which stated "Core Mining Limited wishes to announce that it has identified significant mineral at its world class Avima iron ore project in the Republic of Congo. It offers potential to increase the EXISTING JORC compliant mineral resource of 690Mt at 58% Fe plus an additional 395 to 540 million tonnes totalling over 1 billion tonnes of high grade JORC compliant iron ore resources".
and from "The Australians" i quote "With Mr Vasiliades owning the bulk of Core, he could rapidly emerge as one of the wealthiest individuals from the Australian mining industry and Severstal was taking a 16.5 per cent stake in the group for $US15 million."
"More than 1 billion tonnes of high grade ore has been identified at Core Avima project and magnetic surveys over the project have identified a further exploration target totalling a huge 5.3 billion tonnes."
and i confirm with JP Morgan when they stated "JP Morgan reckons Sundance shares are worth between 6.5c and 8.1c each."
The largest iron ore company in congo,a listed ZANAGA iron ore which in partnership with Xstrata,and has over billions tonnes of high grade JORC resources doesnt even has a market valuation/market cap of around $100 million.
All in my opinion only, do your own research...buy if you think Sundance is undervalued and sell if you think it's overvalued. But judging on SP price reaching new lows everyday (9.1 cents this morning) the market may realise its true value after all.
SDL Price at posting:
9.4¢ Sentiment: Sell Disclosure: Held
