railway much bigger, page-11

just been reading about FDL, sounds like they probably have a resource right next to FMG, but as far as I know they haven't drilled a single hole yet have identified the potential size.

And here we are, now with the same market cap as FDL, smack bang betweem RIO and BHP and with rail virtually passing over the top of us, floundering (relatively speaking)....am I missing something or is this market totally crazy?

from FDL today "Dr Wills said FDL emphasised that although based on the best available local
experience, the new E47/882 exploration target of 325-390 million tonnes of iron ore
is conceptual in nature and there has been insufficient exploration carried out to
estimate a Mineral Resource.
“It is also therefore uncertain whether further exploration will result in a larger,
smaller or any Mineral Resource,” he said.

NOTE TO FDL daytraders, I am not putting your stock down, just perplexed at (lack of) interest in UMC....how big is our theoretical potential resource?

Must be how they worded their announcement.

Anyway, I am happy with our announcement today. Eventually we'll get there.