brokers hard at work ramping

I have been studying this stock since the Russian bid and decided to sit on the sideline and being vindicated. The 30 cents a share scenario was a blue sky boom time legacy.

Classic crap from brokers suggesting a "floor" - what a joke. At the current sp, FMS management would pull out all stops to re-inflate the sp one would have thought. Dangerous trap to fall for IMO judging from the 10% + spike after a story on the internet yesterday. Wonder who profitting on the day ???

The one at "The Age" website is even more comical suggesting FMG and AGO will even have a look.

It would be cheaper for RIO to simply expand their existing output rather than waste cash buying FMS which is not a producing asset and has to be developed with another half billion in Capex.

FMG just done a JV with IOH Iron Valley to develop that adjacent ore body where there is synergy. It has more than enough ore to poke a stick at. In fact so much so, they need to take a breather after the first 155MTA output is reached given the global uncertainty.

AGO only has about $350M in the bank and it needs every single cent to expand given the huge capex for them just to get to 12 MTA, let alone the 45MTA thay hope to reach by 2017. They are tearing their hair out already in just how they can jointly fund a rail line to be built by QRN.

If anyone who is going to be taken over, it's AGO itself which has a combined 46MTA allocations at Port Headland. Without a rail deal, FMS is just dirt in the ground.

Given the current global situation and potential fall in steel price, I suspect FMS has a long way to drop before another suitor will opportuniscally come in.

Undeveloped dirt in the ground with no infrastructure these days is not worth much.