At this price I have decided to buy in.
Unlike many juniors that have tried but failed due to the high capex needed for rail & port infrastructure (eg. SDL) I believe GEN will become a producer. Simple DSO project should keep the capex fairly low. I look forward to the completion of the PFS which shouldn't take too long as they have much of it already in place from 2014, just needing an update:
Mine site
https://www.srk.com/en/projects/genmin-iron-ore-exploration
Rail
https://www.systracanada.com/en-projet/railway-prefeasibility-study-for-the-baniaka-project
Port:
https://prdw.com/projects/**on-iron-ore-transhipment/
Management planning a 5 mtpa operation by 2024 & hopefully a 64% Fe product. If they can get OPEX down near US$30/t FOB Owendo plus US$20/t shipping **on to China (same Capesize rate as Brazil) then can do very well even with a much lower iron ore price.
Also plenty of resource there for future expansion.
From doing a bit of research it appears Genmin will become **on's first IO producer as Belinga project is still lacking railway.
I'm starting to see why Min Res CEO Chris Ellison invested $2.5 million in the IPO.
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13.0¢ |
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Mkt cap ! $89.08M |
Open | High | Low | Value | Volume |
12.0¢ | 13.0¢ | 12.0¢ | $66.97K | 552.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 330000 | 12.5¢ |
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Price($) | Vol. | No. |
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13.0¢ | 238136 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 330000 | 0.125 |
1 | 45936 | 0.120 |
2 | 326576 | 0.110 |
5 | 329311 | 0.105 |
7 | 249309 | 0.100 |
Price($) | Vol. | No. |
---|---|---|
0.130 | 238136 | 2 |
0.135 | 102032 | 3 |
0.140 | 25000 | 1 |
0.145 | 41200 | 2 |
0.150 | 80653 | 3 |
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