SOC pay $700K for Mt Adrah, 4CE sell it for $500K

Pretty unbeleievable to think SOC originally paid $700K for Mt Adrah, now 4CE are flogging it for just $500K

Punters don't seem to care too much

A little refresher ...



Conceptual Target of up to 4.6Mozs for Hobbs Pipe 1 alone

https://www.asx.com.au/asxpdf/20130822/pdf/42htx6tywcb8w1.pdf



They believe there were up to 5 pipelike structures, similar to RIO's North Parks

https://www.asx.com.au/asxpdf/20130613/pdf/42gfsymyf0rr8r.pdf



Some comparisons to NCM and EVN low grade deposits  



A $/t comparison between Mt Adrah Pipe 1 vs Barrick and NCM



Not to mention, this already has infrastructure in place, multi Mozs discoveries along strike and a huge producing mine nearby

Drill highlights to date:-

“Drill Hole GHD001: Results provide a clear picture of the grade of mineralisation to 886m @ 1.2g/t Au from surface”

“Best high-grade intersection of 10m @ 17.7 g/t Au From 506m downhole (GHD009), beneath high grade workings”

4CE are now selling the asset for a loss, as it'supposedly easier to focus on assets in the DRC

$250K cash is all the buyer has to risk until successful IPO.

This will be the easiest flip into another listed entity or IPO, $7-10M valuation, few $M raised. Buyer makes Disallowed without breaking a sweat