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Young_Trader posted on Yesterday, 10:35 AMACSMkt StructureShares
100m + 30m 20c Opies 30/9/09Mkt Cap @ 20c = $26m Current
Mkt Cap @ 30c = $39m Target 1
Mkt Cap @ 50c = $65m Target 2Cash
$6m + $6m when opies exercised therefore = $12mPlacement
It should be noted that 55m shares were placed at 12c recently, these shares from what I understand it were placed to Sophisticated Investors who are very unlikely to stag a profit, but may do so nevertheless,Thus caution is advised when buying, the shares come one Friday 27th July, so it will be intersting to see what they do,ProjectsMount Gibson Iron Ore, 80% maybe more, Mid West W.A. 5km's from MGX's operations
Although there is no JORC yet, drilling so far has shown 20m -80m thick 30% - 40% Fe Magnetite Ore from 16m - 30m downFrom these drilling results, the potential strike length of 8km's and talking to the company, its clear that ACS have a very good chance fo firming up minimum 100Mt@30-35% FeNow adjacent to ACS's Mount Gibson project is E |
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