What you have neglected to mention is that this comnpany has a 50% interest in a project with an NPV of US$67. Coming into a bankable feasibility study.
Into a rising commodity market companies with projects close to Bankable and/or financing and/or off take agreements will be the most profitable. Once the commodities boom (and believe me its coming) is in full swing project quality wont mater so much but getting it right early allows you a double dip if you like.
I dont know whether you will see much of that placement stock until the company starts to update the market.
At this price the company has a market cap of 5.5ish million.
Thats not expensive at all given their potential value.
AR1 Price at posting:
0.0¢ Sentiment: None Disclosure: Held
