Reply to thread

Message

Re: RDR - Reed Resources

Todays Announcement
Resource at Mt Marion Lithium Project in WA increases 220% to 128,000 tonnes of Li2O
So now the market is valuing GXY and RDR at about the same

GXY 11.4 million tonnes @ 1.05% Li2O = 119,700t

RDR 8.9 Million tonnes @ 1.4% Li2O =128,000t

GXY MC $207million

RDR MC $121million

So if GXY were in the 60/40 jv their MC would be approx 124 million
Considering RDR has another 4 projects in its bag I still think theres room for the share price to rise
NB: RDR is futher behind in project development than GXY

[QUOTE="kgee, post: 547542, member: 3277"] [b]Re: RDR - Reed Resources[/b] Todays Announcement Resource at Mt Marion Lithium Project in WA increases 220% to 128,000 tonnes of Li2O So now the market is valuing GXY and RDR at about the same GXY 11.4 million tonnes @ 1.05% Li2O = 119,700t RDR 8.9 Million tonnes @ 1.4% Li2O =128,000t GXY MC $207million RDR MC $121million So if GXY were in the 60/40 jv their MC would be approx 124 million Considering RDR has another 4 projects in its bag I still think theres room for the share price to rise NB: RDR is futher behind in project development than GXY [/QUOTE]

Verification