takeover from fml or rio.... dj market talk, page-20

Mickey, I was told yesterday that Iron Ore can be priced inground at between $2-$20 per tonne .
I think BHP currently sell iron ore to the Chinese buyers at over $80 per tonne ( someone else here will know the actual figure) .

FDL was priced two days ago as a failed diamond explorer .
It found Kimberlites and microdiamonds but not the high value diamonds . But bingo FDL have FMG iron ore resource entering their 100% lease . On top of this they have an estimate that has a slightly lower grade iron ore that is 100% owned by them that is currently being priced at 35 cents per tonne .

People are shocked and amazed at the price rise but as a failed diamond miner it was discounted massively and possibly should never have been 1 cent a few days ago but look at the name 'Flinders Diamonds' - says to me it is a South Australian diamond explorer not a holder of iron ore leases next to Fortescues 1 Billion tonne resource .