I've found a real speccy shell that looks to be getting ready to join the Iron Ore boom, see below
+ 25m 20c Opies 30/9/07 Listed Opies
+ 50m 20c 30/6/10 Unlisted Opies
Mkt Cap @ 12c = $16m Current
$7m + $2m in a listed investment which they are looking to capitalise on = $9m
It should be noted that 45m shares were placed at 12c recently, these shares from what I understand it were placed to Sophisticated Investors who are very unlikely to stag a profit, but may do so nevertheless,
Thus as with ACS caution is advised when buying, however buying at or close to 12c seems safe both from a chart/technical perspective and in terms of the placement
Vandiferrous/Carbon Steel Project Carbon Steel/Pig Iron/Vanadium, 25%, South Africa
From the looks of things, this seems to be an old operation that went to the wall due to poor Pig Iron prices, "Pig Iron prices 25% of what they are now"
So I'm expecting that there is a historic resource which would have to be several hundred million tonnes of magnetite/vanadium type ore given that a whole operatioin was up and running, However this is just a guess. The company has not released any historical figures or grades, it simply describes the deposit as being "a significant vandiferrous magnetite deposit"
The good news is that the project comes ready with most infrastructure, including an ex-Iscor/Mittel Steel Plant.
The project will use 1M t's p.a. of Magnetite Ore to feed the 350k t p.a. Steel Plant and "should generate revenues in excess of $200m p.a. with vonsiderable multipliers in secondary Industrial activities"
The company describes this project as a turn key project, ie given its a historical project it won't take much to get it going.
However it is still very early days to make a call on the value of this project
Bow River Diamonds, 20%, W.A.
This project surrounds RIO Tinto's Argyle Diamond mine operation which is Australias and one of the worlds largest diamond mines.
Again it is still very early days to make a call on the value of this project
Grab samples have yielded some significant results so far though
- A large placement done recently at 12c
- Chart wise 12c seems to be long term support
- A very interesting looking vandiferrous/carbon steel operation
- Still speculative though