Interesting valuation.
I don't think you can do a comparison with FMG, as FMG actually have a train, port and most importantly mining infrastructure, so they can actually dig the iron ore out and sell it to customer.
FMS may have the iron ore, but they don't have any of that infrastructure.
Sure they are close to FMG and may leverage or even sell to FMG, and since I hold FMS I hope either occurs, but the two are apples and oranges, cannot compare.
But hey, I won't be unhappy if you are right.
biactual bonanza, page-4
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87.0¢ |
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Mkt cap ! $173.8M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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