Great Post Blythefan. You made the Iron ore industry so easy to understand.
If I was the CEO of Valin (the Chinese company that now own a large % of FMG) I would buy out FMS while weakness is showing, build the Kennedy Spur and unlock FMG's huge project. Plus you get about 700Mt of FMS' ore. Kev might have lost credibility with the Diamond Fiasco but he has so far reached exploration targets. That is a plus.
Finally, Brm went into a trading halt last year before a resource upgrade so it is common for companies to go into trading halts before an expected announcement. Stops insider trading But ASIC never should have allowed the 15 mins open on friday and they are to blame for creating hype.
IMO
was the announcment deserving of a 2 day tradi, page-28
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