"Good entry point"??? 2c a share mc $11m with $185,000 cash in the bank (as at 31/03/14)... estimate spending $150,000 this quarter, so cash now is about $85,000.
With (I think) $1m debt owe to CP, which CP most likely will convert that debt to shares.... more dilution for you.
Than raise another $1m debt (most likely from CP)... more dilution.
$11m market cap for MINING LEASE (ie right to mine) 1 Bt of low grade iron ore, no infrastructures, and iron ore at $98/t.... IMHO THIS IS THE MOST EXPENSIVE STOCK ON ASX.
Mining lease is NOT mine ownership ie ARH cannot sell this project and can loss this project if CP recall his debt.
Just IMHO.
ARH Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
