FRB, [email protected]. Lets see how it runs. Held off on the IPO for the same cold reasons.
MC$40m.
Cash$21m
$19m EV for an alternative iron ore source right next to china by rail. Its not dark days of 2008, but if it were, downside is what@ 12c?
I figure it has to find some support soon - there looks like a good chance of some positive assays to start rolling throught he door in august. Plenty of time to go before then.
Its good to keep an eye on these seasonally affected stocks. makes it hard for mgmt to maintain the capital momentum, but still they prsent some great trading ops as they are often oversold unnecessarily.
Back at the start of the year they were talking up Sumber, but this is now dead.
Eruu Gol is where the money was at just 2 years ago. Singapore Foreign investment fund and Chinas CIC have both mad investments in the Eruu Gol projects (LungMing/IronMiningIntl), $300m and $700m, respectively. Reportedly has grades of around 35%+ Fe.
With the Selenge project area already cutting at 30%+, things could get very interesting for such a small cap. A different beast to the sumber shot - selenge is nearby to eruu gol and has numerous outcroppings.
