ACS 0.00% 0.5¢ accent resources nl

bottom is in for the rise

  1. 9,188 Posts.
    Howdi gents. Ive been to lazy to post lately.

    But here's an old post with some info on the co.

    Drilling at Mount Gibson will be the company maker. Results should be out this quarter.

    - ACS have BOTH haemitite/vanadium and magnetite projects:

    The magnetite deposit is right next to MGX - Mount Gibson Iron. It is a monty to be sold within 6 months to the Chinese - it hasn't been sold yet however. They should firm up 150mt+ (magnetite) some time next year, and once they do, i expect the project to be sold. For a stand alone magnetite operation, 400mt+ is needed. 400mt is out of the question - the company knows this, and always have - so the plan has always been to firm up a resource and sell it.

    Last year the Chinese bought the neighbouring magnetite deposit for $45mn (or close to that; give or take $5mn). This was a 200mt magnetite deposit. So, they have 200mt. Remember, 400mt+ = stand alone. So they need 200mt+ or more. ACS is right next door and will JORC up 150mt. They will sell it to this Chinese. I am 95% confident. In fact, i am 95% confident the company was set up with the sole intention of just firm up a resource and selling to the Chinese. They've always known this imo - at the co has more or less told me this.

    Last years 200mt ~ $45mn. Since, iron ore prices has risen substantially - for both haemtite and magnetite. Factoring this in, they could EASILY get $60mn+ for their 150mt.

    At present their are ~ 100mn shares on issue. So $60mn = $0.60 share price.

    Thats just for the mount gibson magnetite deposit.

    They also have Katanning (spelling?). Its a haemitite/vanadium asset right next to PLA. They released some drilling results quite recently and they were exceptionally promosing. 65+ haemitite and 2%+ vanadium - the vanadium grades were some of the best in the world.

    This deposit offers excellent upside potential. Mount Gibson IMO underwrites any share price under at least 50cents - at least with a long term perspective.

    Hope this helps!

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