The market cap is still nothing. A tenth of what they plan to borrow? There has to be a large upside from here?
I agree nine months is a long time in this market, but it is not stopping the large mining companies from continuing to invest in iron ore projects and continue to expand their existing mines. This is a cheap mine in comparison with others, with plenty of support from the local community, who want to start work ASAP.
Remember no MRRT on this project! If the management are smart they will not borrowing money in Australia but in the US at cheaper rates, in the currency they will be selling in! TFP
RHM Price at posting:
31.0¢ Sentiment: LT Buy Disclosure: Held
