nicolelee TGP is a private company with about 80 investors . Ian Whiteley is the biggest share holder ex Woodside . he is the guy who has done most of the leg work in Nigeria . If you google Nigeria steel you will find alot of references to the Russians .You will also find that the Nigerians are very keen to do business with out side investors . The loan to do the drilling is fine in my opinion as they already have a very good understanding of what they are dealing with . Having said that you need a Jorc compliance so you can take it to the market which I am sure you are a where of. At the end of the day eio may have 1,895,058,709 shares on issue ,then do a 1 for 5 consolidation to 379,011,741 shares on issue . Compare that with GBG 935,215,590 shares on issue and 2.518 billion tonnes s/p$1.34 or SDL with 2,711,984,168 shares on issue and approx 3billion tonnes s/p .49c or MGX 1,082,570,693 shares on issue and 2.13 billion tonnes s/p$2.17 EIO MAY WELL HAVE IN EXCESS OF 2BILLION TONNES WITH ALL INFRASTRUCTURE IN PLACE PLUS THE MILLS I think the tonnes will be well north of 2 billion and that should put the share price north of MGX $2.17 Just my thoughts have a profitable week
EIO Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
