STTCOMP SHH FA LONG
Shree Minerals Limited
SP: $0.007
SOI: 607.7m
MC: $4.25m
Cash: $1.875mmce-anchor
Shree Minerals own a Tasmanian iron ore mine that ceased operating in 2014 due to the negative sentiment and falling price in the iron ore market. This year has seen iron ore prices boom with Vale’s Brumadinho disaster having a serious negative impact to the supply chain, and Chinese demand showing levels above analysts’ pre-year forecasts. Revised forecasts now show the Iron ore price is expected to remain above prior expectations for at least another 18 months.
Today SHH were obliged to issue a response to an ASX price query when the SP rose to 1c (from a low of 0.6c) based on a commissioned article published by ‘Next Mining Boom’.
The article highlighted the current viability of SHH’s Iron ore project, mentioning the benefits of their DSO and it’s current value.
Shree are currently in the process of re-permitting the Iron Ore project whilst also being a few weeks away from receiving assay results for their WA based gold project.
Alos to note, they are neighbours with fellow Cashed up high grade iron ore minor GRR who i wrote a report about here
https://hotcopper.com.au/posts/38902279/single
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