I have posted on Bass Metals before and drew attention to the keen interest the astute Barry Fitzgerald from the Melbourne AGE was taking in its potential. I happen to agree with him...and am amazed to see it selling at a price below its asset backing. Now he is backing up his opinion with another article.(Monday's Age)
He points out that Metals Finance Corp (MFC) has taken over the 19.9% holding previously held by Intec and that Intec has put its idled Hellyer treatment mill up for sale.Now Hellyer's replacement value would be upwards of $100 million but in this market a bargain will be available. ."Should Bass secure the Hellyer mill, it becomes a more interesting base metals play all round." he writes.
Bass is at 0.10 today. So if you buy you are getting $1.50 for your $1...and that is without the upside potential. Bargains to be had. In my non expert opinion ...a buy!
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