Good quarterly report, although nothing in there that we didn't already know, apart from MLA which is expected next month instead of this month.
One paragraph that did get my attention though was:
"Although the Whilcherry Hill Project will begin life as a relatively small project by iron ore industry standards, it will be producing a premium grade product and it is planned to expand rapidly in 3 stages to a total production target of over 10 MILLION TONNES of ore a year."
Now, I knew Hercules was big, but that's huge!
Delays and managements lack of communication skills, not to mention the unpopular resolutions passed at the General Meeting, it is still hard to believe so close to production and export (Jan, 2012) and with deal secured with Chinese buyer and start up costs of only $26 Million, I am reminded of why I initial bought into this stock.
But as our fearless leader Ian states "I too am perplexed by the current sp."
TYX Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)