Thx DDzx, Marcus told me that he thought the in ground value of magnetite was 40c a tonne, who knows? I believe that this deposit is easily mined and benefacted. There is still no premium for the huge infrastructure savings with regard to the railway and port facilities and no premium for the highly probable increase in resource.
Although Crabbe opposed the UMC mess he was ineffective and no doubt along with the villians made many many millions of dollars from it all as did THX, they of course could have made much more had the place not been stolen from the share holders by the directors. His companies are marked down IMO.
Anyway I continue to hold. The issue of the takeover which WA mentioned is largely a management issue and of course the SP would need to be considerably higher before such a scenario would deliver real value to the patient long sufferers.
Marcus it is really over to you and up to you.
MFE Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
