Confirmation that Michael Kiernan's Consolidated Minerals has established a 10-year mine life at its Woodie Woodie manganese mine should have generated a little more interest in the stock.
That's the view of some analysts who believe that the Consolidated share price is now due for a re-rating.
The argument is that the company has been trading on a low price/earnings ratio for some time largely due to the fact that it hasn't hit the magic 10-year number on the projected mine life of Woodie Woodie.
But having boosted resources from a successful exploration program, Consolidated has now identified 8 million tonnes of manganese at Woodie Woodie which should generate additional confidence in the overall project.
According to Intersuisse's Gavin Wendt, the Woodie Woodie upgrade should add another 25 per cent to Consolidated's current 65c share price.
