I have picked SPH for the stock competition and was wondering if anyone knew much about this company.
I know they have an Iron ore resource in West Africa. I'll just cut and paste the highlight.
During the year, Sphere confirmed a resource estimate of 926 Mt for Guelb el Aouj Centre and East deposits. Of significance is the high 70% iron grade of the ore after beneficiation, which allows the production of DR pellets that can be sold as direct feed into cost effective electric arc furnaces in the Middle East (Gulf Region).
The reason Ive started the thread (other than the fact there isn't one already) is becasue the company has reached an all time high today and there is onlt 1..yes 1 seller left at the end of today.
It closed at $4.02 (high for the day) and the only seller has a sell at $4.95 sitting there.
I would have liked to post this in the "Potential Breakouts" or something because I think with the lack of sellers it could really take off.
Any thoughts on this?
Should I have re- morgaged a house to invest?lol
I do not hold so please do your own research