One Fe junior i really like that no one knows about is ACS. They have a 100mt+ magnetite deposit right next to Mount Gibson Iron [MGX] that will be sold to Chinese within 6 months for $60m+.
I say this because stand-alone magnetite operations require 400mt Fe minimum and because a Chinese venture acquired the other neighbouring MGX/ACS magnetite deposit for $35-40mn last year [around 150mn Fe deposit of identical ore body/grades]. They need 400mt+ Fe, so are certainly going to be acquiring the project.
They have ~100mn shares, and are trading at 22cents = mkt cap $22mn [undiluted]; fully diluted = $26-28mn [? off the top of my head forget how many options - 20c ex. - there are...sorry]
Still, a $60mn sale = $0.60 cash
Plus, they have recently acquired an excellent vanadium project off PLA.
Drill results this week confirmed:
- 65%+ HAEMITIE!! - 2%+ VANADIUM - said to be some of best qlty vanadium in world
So, i see assets have potential of a SP well in excess of $1 by this time next year
What im trying to say is that its worth a look - no one follows it. No one posts on it. And hardly any read the 'ironore' thread here on HC. So hardly any peope will prob read this - so this is not a ramp!
The net result is that atm there is little demand competition.
