Heya Strauss,
There are quite a few non-movers in this sector that are sitting at historically low levels which does surprise considering the big move already in the tin price, and the fact Tin is poised to go up higher once again based on technicals and dwindling inventory levels.
I chose NIU quite some time ago. Independent conservative valuation on it's previously producing and highly prospective Tassie Tin asset covers the entire cap at present, and it's also a gold/silver producer in PNG with large territory adjoining the Freida River porphyry deposit, owned by PanAust and Highlands Pacific Limited (ASX:HIG), which has delineated +18Moz AuEq.
Although it's in the process of vital equipment upgrades to allow more throughput and profitable production, it's not there yet, and close to yet another CR if it doesn't pull a cat out the hat. This makes it a riskier proposition and there's a lot of shares to churn through to move the price. I am well underwater here.
The other is NAE. Brilliant ex-BHP management as Minoil stated in his earlier post. This also has a coking coal deposit getting more economical and valuable by the day on the back of recent cyclone disaster. I think at current spot prices NPV/Capex is just under 5 (accounting for exchange rates) which is impressive.
As for the Redmoor Tin project, there is a real push to get this underway and into production. It's 50/50 in this project with
Cornwall Resources, part of Strategic Minerals Limited, whose director Peter Wale made a presentation at the House of Commons about the Redmoor plans in Dec. Cornwall Resources Ltd is part of a joint venture between several multinational companies, is currently carrying out test drillings at Redmoor with a view to reopening the mine.
@cyberbash Thanks for your sentiment. Sure thing just post the code I will do my best to chart it and would like to brainstorm it with you based on your reading on the technical' s I can also learn that way.
