junior iron ore stock prices skyrocket, page-6

Atma

At this stage 58% FE Heamatite, the good stuff I think, I always get confused as to which is better, either way they have the better of the two, and lots of it.
It is also rip and strip, no blasting, in theory.
I was just looking back at past announcements and the area on FMG JV FDL E47/1306 tennement had an inferred resource of 47M tonnes when FDL announced they had IO in Nov'07, they have since updated that to an estimate, which is the next step in the process, to 220M tonnes, and in theory will be JORCed even higher.
Quite a large difference !!
All good for FDL.
Dr Russell's inferred resource was based on 5 metre thickness of IO across the different sections of the tennement, I am pretty sure, and FMG have found ore at up to 120 metres depth from the surface, with a 40 metre over burden.
Do some research and you will realise what FDL are sitting on.
I have done a small amount of research on 1 or 2 others MIS and MMX and they neither have the quality or any where near the quantity of FDL.
What they do have is more advanced infrastructure.
It may take 12 to 24 months for the SP to be fully realised but I think management will have found a buyer for the IO side of the business by then !!
Don't forget the diamonds as an after thought either.

Cheers

D