Not much buying strength or news of late as SP drifts whilst we await update on drill progress, upgrade of resource and progress of pre feasibilty study all of which are expected "during the second quarter".
A solid $11m in the Bank as at 31 Dec'11 with expenditure of $3.5m earmarked for next quarter inclusive of $1m for "admin".
Lots of potential and under valued at current SP in my view - iron ore price and demand holding up - any thoughts ??
MFE Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
