only a fool will think this wont open higher , page-30

Kingrichard

BRM's numbers aren't half FMG's. Their total iron ore might be just under half FMG's but:

1) Average grades are lower;
2) At this stage BRM are talking about a scoping study for production of up to 10mtpa compared to FMG's planned 200mtpa;
3) FMG's current resource estimates cover only a small proportion of their tenements.

So there is a long way to go to be talking about BRM being half an FMG just because the total iron ore is almost half FMG's