Most broker reports ie Bell Potter, BBY have valued SRK at around $3.80 on a discounted basis.
It was a steal at $1.40 odd. Still is below $3 as per there company's statement in the ASX query.
Having said that the current market does not want to speculate on any Fe explorer it seems. Risk is too great for some. However, as long as the Chinese are still playing the speculation game so am I.
quiet, page-16
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