Analysis: Comparisons to De GrussaWhile comparisons are often...

Analysis: Comparisons to De Grussa

While comparisons are often difficult, Horseshoe Lights is demonstrating significant promise.

Historical production at the project is over 110,000 tonnes of direct shipping ore, which draws comparisons to Sandfire Resources' (ASX: SFR) massive De Grussa project - which is looking at producing 140,000 tonnes of direct shipping ore - at around the same grade as the historical production at Horseshoe Lights.

Now consider that Horseshoe Metals has a market cap of $12 million and cash of $2.5 million (June 30 2012), the market is placing a valuation of less than $10 million on the company's projects - which not only includes Horseshoe Lights - but another potential "company maker" in Kumarina.

With ongoing exploration success across two projects, the current share price of around $0.16 will not last for long.


http://www.proactiveinvestors.com.au/companies/news/32439/horseshoe-metals-unleashes-near-surface-23m-at-42-copper-hit-at-horseshoe-lights-32439.html