ACS 0.00% 0.5¢ accent resources nl

the only iron ore stock worth watching this wk

  1. 9,188 Posts.
    I have closely followed ACS - Accent Resources - for quite some time, and warn all that it has just begun its accent (pardon the pun) to $0.60cents pre-drilling results.

    The co have 2 excellent iron ore projects - Mount Gison and Katanning. The Mount Gibson project is (you guessed it) right next to multi-billion dollar FE miner Mount Gison Iron. Target is for 200-300mt's magnetite - to be quickly sold to Sinom (later THIS year).

    2nd project - Katanning - is in South Western Australia. Surface smpling has uncoved tremendously high grade samples. The company proclaim that the 'vanadium is amongst the higest grade in the world, 'comparable to the best vanadium in South Africa'. See exhibit 1 (lol; i feel like a defense attorney)

    Both projects offer multi-bagger upside on there own - let alone together.


    Also, whats attractive is that mngmt and mngmt 'ppl' (people) own 60% plus of the company. Placement 10months ago to double mkt cap and shares on issue was almost purely to mnmgt people. Virtually everyone who tried to get on was rejected.

    Recent activity suggests that these holders have waited until drilling begins to begin their buying spree. So as alluded to, drilling has begun on at Katanning - exhibit 2.

    Drilling at Mount Gibson may also have just begun. I believe drill rigs etc are have been in place and if not for the weather (some rain), we would have had another seperate announcement to say that Mount Gibson drilling is under way.

    Spend some time reading through the posts on ACS, and through co presentations.



    Shares on Issue = 100mn
    MKT CAP = $30mn

    Potential exits for $1-$1.50+ share price.



    Exhibit 1: (Pgs 2-4)
    http://imagesignal.comsec.com.au/asxdata/20071116/pdf/00783782.pdf

    Exhibit 2:
    http://imagesignal.comsec.com.au/asxdata/20080228/pdf/00817484.pdf




    Cheers!
 
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