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Worth investing in EFE?, page-116

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Black Cat

4,326 Posts.

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01/06/21

13:24

Post #: 53563726
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Originally posted by kezzad0rk: ↑

Meanwhile, we picked up Eastern Iron (ASX:EFE) (figure 6) late last year as a potential iron ore producer that is currently well down the track to having its 2014 feasibility study (CAPEX $36m, $26/tonne finished product) updated by Perth-based consultants Engenium Pty Ltd.Figure 6: EFE 2-year share price chart (Source: CMC Markets, 28 May 2021)The plan is to beneficiate ore from Eastern Iron’s 9.05 million tonne at 50.8 per cent iron JORC resource (table 1) to 58 per cent fines (currently trading at a 25 per cent discount to the 62 per cent fines price) and then transport the ore by road 234km to the Port of Eden.Table 1: JORC Resources at Five Mile (Source: EFE investor presentation, 7 May 2021)The company recently completed a placement/rights issue at $0.008/share and currently has about $2m in cash.Based on the current spot price of iron ore, I think the numbers are going to look pretty good, and with a low enterprise value (EV) around $7.5m and potential to generate in excess of $1bn in revenue over a seven-year mine life (based on the 2014 study), there could be a bit of upside left here.

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EFE Price at posting: 1.2¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 0.7¢		Change 0.000(0.00%)		Mkt cap ! $8.694M

Open	High	Low	Value	Volume
0.7¢	0.7¢	0.7¢	$325	46.38K

Buyers (Bids)

No.	Vol.	Price($)
31	15989550	0.7¢

Sellers (Offers)

Price($)	Vol.	No.
0.8¢	2023388	4

View Market Depth

No.	Vol.	Price($)
28	15489550	0.007
13	6649220	0.006
4	3049000	0.005
5	9300000	0.004
4	5658336	0.003

Price($)	Vol.	No.
0.008	3023388	4
0.009	6160266	15
0.010	6960475	16
0.011	8966480	12
0.012	13414132	10

Last trade - 10.44am 01/05/2024 (20 minute delay)


Last 0.7¢			Change 0.000 ( 0.00 %)
Open	High		Low	Volume
0.7¢	0.7¢		0.7¢	50000
Last updated 12.42pm 01/05/2024 ?

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