had a look at it this morning following its pop up yesterday.
$18m mkt cap, few options out. Almost no cash. White knight appears from China, offering $20m of plant and $5m loan and vast knowledge of mining zircon presumably, will help fast track production, off take 95%, in exchange for 42% eventually 47% of equity.
Sounds a fair deal on both sides.
Can anyone advise me on the revenue potential from the mine? I see grades seem high at 26% zircon, and resource extensions are planned but start up specialty mining companies are not my best suit.
Will follow this one. Probably no rush to get set, given the more imminent and more certain opportunities elsewhere, but I may be wrong.
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