The market is a strange place.
Here is SRK in comparison to FMG's reserves (iron-ore only):
Shares on issue:
SRK = 57,522,240
SRKO = 20,030,259
Total = 77,552,499
Last price $2.60.
SRK $149 million Market Cap
Apurimac: 730mt high grade ore
Cuzo: 650mt high grade ore
Total: 1.38 billion tons (minimum)
includes 21 mil ton JORC
upcoming drilling may prove an additional 200+ mt JORC.
Plus Australian iron ore projects
Plus Uranium spin-off
----------------------------------------
FMG
Reserves: 1.1 bil tons high grade ore
includes JORC 121 million ton
FMG 264,427,536
MKT CAP: $4,17 billion
Last price $15.80
----------------------------------------
In comparison, reserves are similar. FMG has higher JORC but soon will SRK.
SRK has FE samples up to 67% FE!!!
According to SRK the peru iron-ore is the same if not higher grade ore than the super-enriched gene ore found in WA (Brockman/Marra Mamba).
FMG has 4.5x the number of shares on issue (FPO's only not including other options, dilution, etc)
I think the share price will correct itself afer the drilling results come out and JORC reserves increase.
SRK with a 3 bil market cap @ 80% stake (2.4 bil mkt cap) = $31.00 (fully diluted)
food for thought... go figure it out!!!!
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Last
3.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $8.796M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 175257 | 3.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.4¢ | 66732 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 175257 | 0.031 |
1 | 500000 | 0.029 |
1 | 210000 | 0.028 |
2 | 192465 | 0.027 |
4 | 341080 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.034 | 66732 | 2 |
0.035 | 534213 | 3 |
0.040 | 136107 | 2 |
0.044 | 20000 | 1 |
0.045 | 4846 | 1 |
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