please no scrip bid from bck next week, page-20

jvrossie

Still waiting for your response to your statement on 29/6/13 that:

"(FMS have shown they will not discount the resource)"

How have they shown this?

"Logically, it's hard for me not to see FMS at least at MMK 30c levels. Don't really like speccin on price but I think there is more chance of that than no"

Really? You still think that FMS will be over 30c.

Just to extend the conversation can you let us all know how you came to that conclusion? Do you see this in 2013, 2014 or 2020?

indigo

"Which board of directors are you with?

RIO or FMG?"

I don't get it?

Or is FMS the laughing stock?

crosso

Just reading that article it states "Jindal Steel is looking for deals of $20 million to $200 million in greenfield iron ore mines, Group Chief Financial Officer Sushil Maroo said in an interview on March 12."

http://www.bloomberg.com/news/2013-06-27/jindal-said-to-be-in-talks-for-liberia-iron-ore-corporate-india.html

So that would make FMS @ ~12c. I can't see anyone offering more than 15c (~$250m) for FMS currently, as they will need hundreds of millions to build a mine then the issues of port, rail, etc.

Here's some snippets from an AFR article on 29/6/13

'WA warns of difficulties for iron ore hopefuls'

Western Australian Premier Colin Barnett has warned iron ore miners that he expected China’s growth to slow to around 6 per cent a year and steel mill appetite to wane, making it difficult for new miners to establish projects locally.

The stark analysis came shortly after Mr Barnett returned from a trip to Asia.

He said he expected Hancock Prospecting’s $9.5 billion Roy Hill iron ore mine to get established before difficulties arose for other potential projects

Mr Barnett attributed the slowing of economic growth in China to a planned shift in focus away from “super economic growth” to a “rebalancing of the Chinese economy” that took into account environmental and other social concerns. He said growth would be between about 6 and 8 per cent, but “more around the six than eight”.

For those with access the link is http://www.afr.com/p/business/companies/wa_warns_of_difficulties_for_iron_NbrGfYMCPBiT7MV98bFqMK