RE: TM122 Nov 2023 23:19
UFO has now doubled since I called the bottom there at 0.16
The other iron ore comp I mentioned KDNC just hasn't taken off yet due to waiting on their licence approval.
Can actually buy in lower than the recent directors purchase.
Worth a watch list imo If it drifts back to recent lows.
RNS there today of no interest to the market.
They.need a good update on AMAPA
All the key details in their Sept 11 RNS
"· The expected licensing timeline for the mine, railway and port at the Amapá Project team has been shortened to12 to 16 months compared to a typical timeline of up to 36 months.
· The revised timeline is expected to result in the grant of mine Installation Licenses ("LI") over the wholly owned port, railway, beneficiation plant and mine during the course of 2024, followed by an operational license ("LO") after construction is completed."
This could be a BIG mover in 2024
Present market cap 11m
From memory Anglo American had a fully permitted Amapa valued on their balance sheet around 800-900m back in the day when previously operating.