Similar to me sbatt
I actually made good money on ARH a few years ago when they were running hot towards x-mas.
At $0.10 mc $50, stil extremely expensive. 1bt of magnetitite with massive CP royalty IMO should around $10m ($0.02/share). At current iron spot price, ARH probably won't even break even. Who will put billions of debt to fund this project. CITIC probably struggling by now with massive $8B capex.
Look those idiots' feasibility study report (updated) using $200+/tonne spot iron.
ARH cannot do capital raising, just issuing more shares to CP to pay ARH directors who also work for Mineralogy. They will run out of money soon, then cp's share placement will be around $0.07... work out the dilution if try to raise $5m ($3m to repay overdrawn debt).
The raised money will just pay directors work for Mineralogy salary.
Read old posts, you will realise how many ARH holders on HC love CP, now their tone of voice has changed to may be hate.
ROY has 2Bt of magnetitide, near all infrastructures (power, railway etc.) and plenty of cash, mc only $30m. ARH at $0.10 IMO is extremely expensive.
Similar to me sbattI actually made good money on ARH a few years...
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