James Hodgins
Noventa Ltd
NTA-T(dead)
DON'T BUY
Aug 30, 2011
Had a major problem with their contractor in Mozambique, which forced them to raise money at a very this price. This is a “show me” story at this point. He owns preferreds but wouldn't look at the common at this time.
Makes tantalum that has some of the characteristics of rare earth. Have raised the money to restart a mine is in Mozambique so there is no exploration risk. Recently the US government has banned imports of tantalum from the DRC, which pushes the price of tantalum up. Significant production growth. Expecting it to generate $20 to $25 million in EBITDA next year and its market cap is $30 million.