Sinom bought Extension Hill from Mt Gibson for $52.5m but MGX only owned 73%
This changes everything as that means 100% of the 230Mt resource was worth $72m
So Sinom paid $72M for 230Mts Mag at Extension Hill in 2006 prior to the iron ore boom
http://www.asx.com.au/asxpdf/20061018/pdf/3z1dvg32bjdqn.pdf
ACS look to be targeting 450Mts - 750Mts now (I will back these figures up in next post)
based on Sinom transaction
450Mts worth $140m = $1.30
750Mts worth $234m = $2.15
Sinom bought Extension Hill from Mt Gibson for $52.5m but MGX...
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Mkt cap ! $2.937M | |||
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