GREY:ADEXF - Post by User
Comment by
VENManon Aug 13, 2012 8:18am
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Post# 20210097
RE: RE: RE: My $0.02 worth
RE: RE: RE: My $0.02 worth hi B-Diddy
We are in bad market conditions for penny stocks right now which helps the bears on this board look smart but the fact remains that AXI can produce Iron Ore below $50 per tonne and its a fact now not fiction. I bought all the shares i need below 40 cents and i still think that anything below 40 cents is good value here. 40 cents puts the market cap at around $80 million. The play here like you said has always been china wanting our iron ore. With that would come a newly formed company listing in TSX, spinning out of other assets, i think a buyout out several years after that and a $400 million market cap or more when you consider a development project of over $1.2 Billion. Not getting ahead of myself the other thing to consider from this DFS is the total cost of $1.2 billion. Traders could think XDIP was willing to pay as much as $1 Billion so I'm selling out. When in fact the other $200m could come real easy from Fulon Steel in this play.
Good Luck to all !!