Recent weakness in the price, looks like a good buy here (I already pch'd 9.90)
-trading at just over book value
-key asset is Kami mine which they will collect a royalty of 3% of gross rev's if kami project comes online by 2015. Kami has already been invested in by Hebi Iron & Steel (2nd largest steel prod in world)...market is uncertain about this, but I believe this will go through or hebei would not have made such a massive investment
-120mm in cash, almost no debt, market cap of company is extremely low
-company has superstar mgmt that has, in the past, in mining weakness bought companies or stakes and sold a few years later for more then triple the original pch price
-company essentially buys land rights and forms JV with other companies, collecting royalties from top line - about as less risky as you can get in the mineral business
-have partnership with cranberry capital (paul eden), a superstar investor who invests in mining companies; this sector is extremely, extremely undervalued and has massive potential as long as the global economy continues to grow (especially china)
-trading at just over book value
-key asset is Kami mine which they will collect a royalty of 3% of gross rev's if kami project comes online by 2015. Kami has already been invested in by Hebi Iron & Steel (2nd largest steel prod in world)...market is uncertain about this, but I believe this will go through or hebei would not have made such a massive investment
-120mm in cash, almost no debt, market cap of company is extremely low
-company has superstar mgmt that has, in the past, in mining weakness bought companies or stakes and sold a few years later for more then triple the original pch price
-company essentially buys land rights and forms JV with other companies, collecting royalties from top line - about as less risky as you can get in the mineral business
-have partnership with cranberry capital (paul eden), a superstar investor who invests in mining companies; this sector is extremely, extremely undervalued and has massive potential as long as the global economy continues to grow (especially china)