big big open on monday, page-17

G'day mate.

Well one could argue then that if over time we were to say prove up 105Mt then $4.72 could through simple maths become $47.20???

Another FMG in the making...perhaps. maybe..

4 years ago if you were to suggest the current MC of FMG you would be scoffed at. All the doubting thomases though have been proven wrong.

For fear of being branded a ramper also it should be stated that is an undiluted MC. So halve that roughly for 200M shares on issue and you still get a ridiculous sp of over $20. Sounds far fetched...maybe.

I prefer to use $10t which I consider to still be extremely conservative when you look at location, similar geology to mining area C and likely potential Fe grades already known for the general area.

Say ultimately 100Mt can be proven up by the end of next years field season and all the oppies are converted using $10t in ground value.

$1B / 200M shares = $5 share....

Certainly this is within the realms of possibility, is it not???

What happens if we get price rises of 25-75% next April allowing for freight differential price adjustments. Seriously what will that do to in ground valuations??? Add a similar % increase.

Hey Kaching, cash REGister if you are reading this don't you go getting to excited....And don't pike out on Broome either..

What happens if we formalise the Norsk JV this year?
What happens if RIO relinquish MPJV or lose it?
What happens if UMC pick up an extra 300Mt bauxite?
What happens if we get a financial crisis meltdown?
What happens if we get a major terroist attack?

All of these will have a direct effect on UMC's sp on any given day.

However the underlying fundamentals for resources are unlikely to change over the next 5-15 years at least.

It would be fair to say that my knowledge on iron ore explorers is basic at best.
However my understanding of finding the right one, sticking with it over time and realising full value cannot be understated.
Still my greatest doubt is that I will probably sell out too early.

However when you do direct market cap comparisons of industry peers it is hard not to see a lot of blue sky by finding the right stock and sticking with it.

Needle has done extremely good work on this thread and perhaps more on YML of iron ore company valuations compared to some of the mid tier explorer come producers. Well worth reading.

Mate, I like everyone else on here is just trying to find the next PDN or FMG in it's infancy and sticking with it.

Maybe this is it, maybe not?? Time will tell..........As far as I am concerned next week is just one step in a staircase of validations that I am looking for to continue to hold...See you in Broome..