MMX came out with an announcement re it's rocklea iron ore...

MMX came out with an announcement re it's rocklea iron ore resource - positive scoping study bla bla bla. Captial cost 370 mill + infrasture linkages which is the next thing being considered. AQD has the other half of the rocklea iron ore resource across the tenament bounday and "continues to pursue options to realise the value of this strategically located resouce..". i.e sell it to mmx or someone else. Given the capital cost mmx mentioned presumbly the resource could be worth a fair few multiples of aqd's current market cap of aroudn $28 mill. Basically the market is giving no volue beign put to thsi resoruce given aqd is trading just above cash backing.

AQD market cap here around 28 mill here - cash 22 mill - so if we're talking $100's of millions as being relevant for Rocklea resource then it's a no brainer (if they can make a good deal). On a guesstimate value of the rocklea resource being worth 50-100 mill that would make AQD worth around 30 cents to 60 cents if we assume there other exploration stuff is worth nothing.

My last pick in this forum was TRF at around 23 cents.

Obviously I hold AQD. Be interested in anyone's thoughts.

Cheers
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