spin off bauxite , page-32

I think you should look at FMG for some sort of indication!!
How many analysts been proven wrong on FMG saying it is fully valued only to be proven wrong??
We might not find as much as them but we don't have the amount of shares on issue either.
If you look at FMG resource and market cap per tonne, then assume UMC resource numbers you may get some indication of why we are all so excited.
Sorry I don't have the time to cruch the numbers for you but someone probably will