Opinions
Jim Huang
New Millennium Capital Corp.
NML-T
DON'T BUY
Mar 07, 2013
$1.020
Stock price when the opinion was issued
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BUY
Partnered with Tata Steel, which paid $300 million and brought the project into production. This company retains 20%. Cash flow should be about $200 million. Also have a large taconite project and Tata Steel is carrying this company and bringing the project to a feasibility stage in this company will be able to have 40% of the project. Great point to pick this one up.
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BUY
Have a project Quebec’s Labrador as well as a joint venture with Tata Steel of India, which gives them a lot of credibility. They have done everything they said they were going to do but unfortunately it has not been an easy environment for Junior resource companies, even for one with strong backing like this one. Believes that if they continue to build their resources and push forward their projects, they will do well over the next few years.
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Iron ore developers and companies have all done very badly. Doesn’t see a lot of upside in the short term for iron ore because there are still quite a few projects coming on and the Chinese steel demand is looking pretty stagnant.