Just listened to the MD's interview on boardroom radio.
When asked about the potential for quite a significant upgrade on initial resource estimates...the company is "EXTREMELY ROBUST"
Other key notes:
-More capital to be raised sometime in May to commence further drilling in June.
-More drilling results in the pipeline between now and May(oxide zone).
- The project wll require an estimated $7-8 million once drilling is completed to get to a pre-feasability study.
-Project is in an excellent location, sealed road highway goes right over the top of the deposit, surrounding mines, water, power etc located only 200km's from Gladstone port.
-Moly prices expected to be trading around US$24/lb by end of the year. A 25% premium to todays current trade.
-Consolidation in the sector both here and internationally.
-Over 30% of the company owned by Chinese Investors.
This company is still only worth 12 million dollars based on current the share price.
The company believes they have a deposit of potentially 300 million pounds of molybdenum.
Do your figures.
Its trading VERY CHEAP. And for those worried about a nearing capital raise, the public will more than likely get overlooked with all the sophisticated investors already holding so much stock.
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