Here is another part of the report, I realise the moderator has difficult job but some of the posts going around on this threads are getting ridiculous. Tolhurst also has accumulate for both medium and long term!
Drivers / Catalysts World Class Assets FMG has the largest tenement holding in the Pilbara region of WA as illustrated in Figure 1. The company has defined a resource of 3.3 billion tonnes @ 57.7% Fe from approximately 10% of its 40,000 square kilometres. This includes the Cloud Break and Christmas Creek Marra Mamba iron ore deposits and the newly defined Solomon channel iron deposit (CID). The company has demonstrated a high level of resource to reserve conversion (conversion at over 75% to date) and reserves currently stand at 1.1 billion tonnes @ 59.1%. We believe the current resource is sufficient to support a 120mtpa direct shipping ore (DSO) operation for c20 years. Figure 1: FMG’s tenement holding, rail infrastructure and deposits
FMG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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