Trade4profit:
The assets are excellent.
The Mount Gibson magnetite deposit it located next doot to MGX extention hill. The company have a target for 220mt on this project alone. Sinom (Chinese co) acquired the project off MGX for around $50mn AUD 18months - 2yrs ago. The objective here has always been to firm up the resource and then sell the project to Sinom.
They speak to Sinom regularly.
Sinom know you need 400mt for stand-alon magnetite. So do acs management. They know they need to sell. I have spoken to them dozens of times.
After the resource is firmed up, they will sell Mound Gibson to Sinom for $100mn and focus exploration on Katanning - grounds acquired last years off PLA.
Potential exists for $1+ share price
100mn shares on issue. Compnay mngmt and backers own over 50-60%.
A MAK run is clearly a possibility. Hey, ill take $2.
:)
Trade4profit:The assets are excellent. The Mount Gibson...
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