These seem very badly undervalued to me!
They look like they will have ~100m tonnes of Pisolite iron ore in their JV area. This is in the same project area with RHI and others. They also have some very good other assets - to have a market cap of ~$15m is just plain crazy -
Even if they only end up with 20% - 100m x 20% = 20m tonnes at a $20/t profit level = $400m (over say 20 years - $20m per year - or more PER YEAR than their current market cap).
This is not even allowing for the fact that Rio, BHP or even CVRD maytake the whole area out if all the parties build a big enough cumulative resource.
crazy market
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Last
0.3¢ |
Change
-0.001(16.7%) |
Mkt cap ! $8.160M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $86 | 33.36K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 81 | 181057554 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 14685115 | 5 |
View Market Depth
| Last trade - 13.10pm 29/07/2024 (20 minute delay) ? |
| HLX (ASX) Chart |