News

June 10, 2008

Aricom Moves One Step Closer To Funding Its Huge Iron Ore Projects

By Alastair Ford

Sometimes the fundamentalist view that the market is always right is extremely hard to justify. Take Anglo Pacific Group, the mining royalties and investment company run out of the West End by Brian Wides and Matthew Tack. This is a company that most analysts, industry watchers, and indeed investors, fairly claim has been consistently undervalued by the market, in terms of both profits and net asset value. In the market’s defence, if you want the Anglo Pacific story, you really have to go after it, and although Mr Wides and Mr Tack are both affable fellows and canny investors to boot, they’re often pretty cagey about what’s in and what’s out of the Anglo Pacific portfolio. The information’s out there, but if you want it, you have to work for it.

Not so with Aricom, the FTSE-250 listed iron ore company run by Jay Hambro from an office just across from Buckingham Palace. Aricom’s also been the victim of a bit of market misconception lately, but it’s not for want of information. Jay employs a tip-top PR company to spread the word for him, and he’s certainly not afraid to get out there and bang the drum himself.

So it was all a bit mystifying when the market knocked Aricom down significantly after the company announced on 27th May that...