This has been a tough play. They have a high grade pod that they hope to direct ship. The guys are hard working and sincere, but he would wait to see how it goes and see if they can pull it off.
Possible takeover. On to a substantial deposit in Eritrea. A questionable country but it offers some value, particularly if you can get it under $1.50. Good speculative opportunity at that price.
East Africa. Phenomenal deposit. The scope and study is not out yet. Expecting the new economics to be very good. About 1 billion lbs. of copper, 2 billion lbs of zinc and a good quantity of gold and silver. Have $8 million in cash and their market cap is $10 million. You have to believe there will be more upside in this eventually.
Hard to trade. Statistics for small resource companies are poor. Typically stays out of this type. Downward trend is worrying.Looks like it could drop down to 40 cents. 63 cents is the resistance point, if it breaks out of that then maybe.
This has been a tough play. They have a high grade pod that they hope to direct ship. The guys are hard working and sincere, but he would wait to see how it goes and see if they can pull it off.