I think everyone's placing too much value on the "diamond exploration" component of the company. When FMS (FDL) was just a diamond explorer, two years ago, the shares were valued at around 1 cent. It took the iron ore find to boost the share price to its present value.
As I see it the diamond exploration component is probably still around 1 cent.
Shareholders may have a lot more to gain by the company focussing 100% on iron ore and fast-tracking to production rather than spreading the company thinly looking for elusive diamonds (and phosphate).
Not to mention that the company, as a pure iron ore play, should be taken a lot more seriously by the market and therefore be worth more as a take-over target or JV.
My 2 penneth worth.
JC
spinoff, page-44
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Last
77.5¢ |
Change
0.025(3.33%) |
Mkt cap ! $154.8M | |||
| Open | High | Low | Value | Volume |
| 77.5¢ | 83.0¢ | 77.5¢ | $3.885K | 4.886K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 132 | 77.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 82.5¢ | 4000 | 1 |
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| Last trade - 12.47pm 14/11/2024 (20 minute delay) ? |
| RHK (ASX) Chart |