trackers
01-10-2010, 12:09 AM
This come up (incorrectly, funnily enough) on a TA scan, but it looks very interesting.
40mil shares on issue, fairly illiquid.. Market cap @ 18c = 7.2mil.
Cash = $600,000
These guys are mining primarily for Antimony, which is a rare metal used in LCD's and things.
This year the price of Antimony has risen by 150% which makes mine viability much more attractive, and is now selling for over ~$4 a lb... Its tracking with copper (check latest investor presentation: http://www.stocknessmonster.com/news-item?S=AHR&E=ASX&N=606783
They have a 2009 JORC resource (their main project Wild Cattle Creek) of 17,500lb (@ 2% cutoff) which at latest prices per ton of $10,325 is theoretical sales before costs of $180.6 million.
2010 drilling at wild cattle creek will extend this JORC and has shown the strike is open at several ends. In addition, gold and tungsten are present at low grades.
Mine scoping study commissioned in July.
thoughts? This looks fairly solid to me, the only concerns are the illiquidity (which given a rerating would change) and the low cash... Cap raising soon no doubt
40mil shares on issue, fairly illiquid.. Market cap @ 18c = 7.2mil.
Cash = $600,000
These guys are mining primarily for Antimony, which is a rare metal used in LCD's and things.
This year the price of Antimony has risen by 150% which makes mine viability much more attractive, and is now selling for over ~$4 a lb... Its tracking with copper (check latest investor presentation: http://www.stocknessmonster.com/news-item?S=AHR&E=ASX&N=606783
They have a 2009 JORC resource (their main project Wild Cattle Creek) of 17,500lb (@ 2% cutoff) which at latest prices per ton of $10,325 is theoretical sales before costs of $180.6 million.
2010 drilling at wild cattle creek will extend this JORC and has shown the strike is open at several ends. In addition, gold and tungsten are present at low grades.
Mine scoping study commissioned in July.
thoughts? This looks fairly solid to me, the only concerns are the illiquidity (which given a rerating would change) and the low cash... Cap raising soon no doubt