Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Dave Reeves, managing director and significant shareholder of West African iron and manganese play Ferrex (FRX), is toasting encouraging mapping results from the company’s 82 per cent-owned iron ore project at Mebaga in northern Gabon. Key elements in the company’s growth and development strategy are also coming together and in Togo and South Africa. If successful, these could transform AIM-quoted Ferrex, whose shares at 2p have doubled since last summer but remain below their 2.6p 52-week high and 3p float price of 2011.
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