RE: RE: Afri-Can News on Dow JonesGuys, let try to stay focus.
The news is on AFA web site, it was posted on November 29, 2010.
As per the headline that was written by Dow Jones Newswires, that is actually not a news for say but information that was written by a journalist, base on information they obtain from the November 29, 2010 press release and other sources.
Now, the fact that the Haib news is not on the Teck website is not really a surprised, since the news was AFA informing its shareholders about the drilling results obtain by Teck Namibia on Haib. ...
Even with the Haib being a large project, it not really that big in the overall scheme of thing for Teck to issue its own press release on the results of a 5,000 metres drilling project....
I was informed by source at the Company that the Haib press release was in fact approved by Teck before its distribution.
Now what I found very interesting with this is that when Teck got involved with the Haib project in 2008, there were not the Company they are now, but the project Haib was know to be a massive low grade ore deposit, so the fact that Teck decided to stick with the project in 2008, when they were going though a near death experience is very telling...
The funny thing is that. for me, this sleeper asset is now worth more then I could have even dream the block be worth...
Heck, since as per the terms, AFA is entitled to have a 15% interest in the project, that means if the project is 4 billion Lbs of Cu that mean that AFA share is equal to 600,000,000 lbs of copper in situ, or $ 2,4 billion of value in the ground and calculate that versus our Market Cap of AFA $ 11,550,000... Now that is cheap... even without giving any value to the marine project, for each shares of AFA 3 lbs of copper in the ground per share....
Were else can you get involved in project with a major like Teck and buy the equivalence of one pound of copper at for $ 0.02 per share..
It may take a bit of time for the market to realize the value, but two thing are certain for me... Fundamentally, The down side risk does not exist anymore..
When you combine that with the fact that AFA shares are way oversold... you realize that an explosive bounce up will occur one of these days....