Depends on economy condition, at moment (with EU situation) I think $0.40 is a great offer to sell. I think KPMG says $0.17/t for undeveloped, low-grade iron ore mine, so $0.40/share is fully valued IMO.
1 Bt would be great, but also need some DSO (hopefully from their WA JV projects with GBG) & PFS done ASAP. Market, unfortunately, doesn't value low-grade ore (eg 25%) much.
For many trading days so far, I noticed some bigger buyers always buying up (on the market didn't want to wait) just before market close to push sp close either up or flat like today. Someone is accumulating, very interesting.
MFE Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held