Atlas Iron (AGO) could be turning over nearly $1 billion within two years, according to Credit Suisse analysts, who have crunched the numbers on the iron ore miner’s latest production forecasts.
Read more about Atlas Iron (AGO) Shares- Potential to Produce $1b In 2 Years – Buy or Sell?There would have to be a strong revival of interest in nickel laterites to get Heron shares back over $1.00 – It may well happen one day but not in the immediate future. In the meantime the shares are ridiculously undervalued by the market. At 31 March the company had just over $61M in cash, 253M shares on issue; cash per share of over 24cents. With shares changing hands today at 18.5 cents you would have to conclude that the market considers all Heron’s non cash assets to be worth negative 5.5cents per share! Even with expenditure of $4.5M this quarter to advance Heron’s A1 gold mine and other exploration projects there will be in excess of 22cents per share in cash by 30th June!
Read more about HRR – Heron Resources Shares Trading Under Cash ValueAtlas Iron (AGO) announced on Friday that the government approved its proposed Wodgina iron ore project in Western Australia.
The Australian share market fell 0.7 percent on Tuesday, knocked lower by resources shares on worries that demand for metals and oil might not keep up with recent spikes in commodities prices.
Analysts said the fall reflected switching out…
Read more about ASX Share Market Wrap 4-13-10Australia is on the verge of the biggest investment boom as a large number of projects await final decision to go ahead according to the latest Access Economics – Arup Investment Monitor. The report said there are currently 145 projects worth some $161 billion where a decision on whether to go ahead or not is expected to be made during 2010.
Read more about WA – Mining Investment BoomA lot has been made about the commercial closeness of China and Australia in the past couple of years.
It’s certainly the case and yesterday we got some official figures that confirmed the tightness of this trading relationship.