In This Issue
Heavy Minerals - a promising new garnet company
Our markets digested the Federal election outcome without missing a beat. We saw a continuation of the same thematics from overseas with the prospect of further rises in interest rates still in the offing. There was increased talk about an emerging recession and China seems more likely to head south (economically) than progress in the short term due to continuing covid lockdowns. So, it was another uninspiring week as we move into the final month of the financial year and what is usually a down month.
One of the more interesting companies we saw at the recent RIU conference in Sydney was Heavy Minerals Ltd (HVY), based on the prospectivity of a garnet and heavy minerals deposit 50 km north of Geraldton in WA. With a market capitalisation of around $11m, it seems that the market is ignoring the upside potential.
Why is the share price so low? Maybe it is just another victim of the weak market we have been experiencing, or maybe the release of a small number of escrowed shares in the middle of the month resulted in some selling. Maybe the market doesn’t know how to assess garnet projects
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