bigricho, to my knowledge their mine site will need very little development work done on it to get it at the stage where production/shipping can start.
The sell depth on IFE is very thin as it is a tightly held register and I believe that there are only 3 things holding the share price back at the moment. Once these three points are completed/finalised then I expect the SP to start moving. That will be the initial movement, and then if/once production starts and that first cheque comes in, the major re-rating will occur.
The three points to finalise are as follows:
- Capital Raising (currently in progress and almost finalised)
- Rail/Port Access contracts (sounds like almost completed - Ian has been in talks with these facility operators for quite some time)
- Mining Application Approval (expected in august/september)
I suspect once mining approval is reached, development will start at mine site through oct/nov and first shipment late dec/jan. If everything flows through that timeline with no major issues, then the share price has every opportunity and the potential to be well above today's current price.
Just need to look at first year production. Lets say they achieve a margin of $45 on 1mt of ore, thats $45mill revenue. Let's say you take off 40% for costs/royalties/tax which gives $27 mill, then take off 20% which goes to TRF - which leaves $21.6mill.
You have a current market cap of $45mill, so they are earning profit at half their market cap... and thats only in the 1million tonnes ramp up year. Thats expected to double to 2 million tonnes in year 2.
Lets say they traded at a P/E of VERY conservatively 8 once in production. In ramp up thats a market cap of approx $172.8 mill or almost 4 times current market cap, and thats in ramp up.
Definitely do your own research and it is by no means a sealed deal at the moment, but the potential is hard to ignore.
The Company is the largest shareholder in Kairos Minerals Limited (“KAI”) which is currently in trading halt pending the release of an announcement to be made in connection with further exploration results from KAI’s recent activities in the Pilbara WA.
The Company is also a major shareholder in Orinoco Gold Limited (“OGX”) which today released an announcement that confirms significant Conglomerate-Hosted Gold Potential over a total strike extent of ~16km at its Eliseo Project.
If I'm not mistaken, today it has entered what is apparently called "blue sky territory" ??A good finish to the month of July up 52.94%finishing at 0.026. Couldn't finish higher than the bar back on the 31st May so I didn't pick it for the August Comp.
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But if you had !?!?!A good finish to the month of July up 52.94%finishing at 0.026. Couldn't finish higher than the bar back on the 31st May so I didn't pick it for the August Comp.
?Couldn't finish higher than the bar back on the 31st May so I didn't pick it for the August Comp.
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