support and resistance, page-14

Correct the value is currently around the expected cash backing of AQA - market placing 0 value on its Iron Ore project.

Given current sentiment it looks like a no goer.

The Roy Hill buy-in was a serious premium for steel mill supply guarantee, can't value AQA at that given the project has already been 50% farmed off. Roy Hill is bigger than AQA's project anyway, although roughly the same grades/impurities I believe.

AQA is cheap. But CAPEX blowouts are the concern, $7 billion could easily end up $10 billion. Worth a punt - although I still haven't bought any yet.