below are approximates, i may be wrong.
ok let me think about this, if BCI market cap is $40Mill for approx 50MT of Iron, then it is 80cents per Tonne.
so if FMS comes out with anticipated results of 390MT, not including the CAZ acquired tenement, 390 x 80 cents is $312Mill.
FMS current market cap is $180Mill, 180/312 = 57.6% of what it should be valued based on BCI valuation?
so you guys aren't actually downramping FMS, but upamping, i understand now.
iron ore, page-109
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