Really good announcement last week for a few reasons. 1) Mofe Creek drilling getting back underway firming up to an initial JORC within 3 months... a) We should see drilling results coming in over the next months.. Iron Ore price remains strong and Mofe is potentially a low cost producer.. b) Site indicates all year round access which means no stopping for the rainy season and we should be able to move more quickly towards production. c) Recent sales of assets and options exercising have given them much needed cash. A JORC resource (even on the some of the project) will give a much better overview of the potential of this project.
2) Strategic Review Outcomes completed. a) There was a lot of interest which shows the project has merit as proposals were put forward. b) Our TAW board is mature enough not to "sell the farm" from under us and decided it was in the best interest of shareholders to continue to retain a 100% stake in Mofe.. Which also means our management team strongly beleive in this project. c) Our board is about maximising shareholder value and will complete further drilling and perhaps the scoping study before re-reviewing options... Once again looking for the best result for their shareholders.. Very positive signs from my side and i look forward to a successful drilling campaign and the stock price getting back to the levels prior to the perception of a big capital raising and dillution that was felt at the beginning of 2013.
TAW Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
