Everyone should get excited. SP looks ready to pop!
I have always been interested in FMS based on RIO's Caliwingina Resource.
I suspect a select few have picked up on Rio's Nov 26th resource upgrade announcement and how it relates to the FMS PIOP.
The Caliwingina upgrade is the biggest of RIO's 9 reported upgrades!
*Caliwingina (Detritals) 160 Mt @ 61.1% Fe (new deposit)
*Caliwingina (CID) 1,380 Mt @ 56.8% Fe (up from 875 Mt @ 57.7% Fe)
For those not familar with FMS's project you must realise that there is a little more going on here than just a little synergy.
Three (Ajax, Blackjack, and Champion) out of the five FMS E47/882 deposits sit in the exact same channel system as Rio's Caliwingina Resource. In FMS's ASX releases they only show Blackjack and Champion as being part of this system but after looking closely at aerial maps I have discovered that Ajax is also part of the same channel sysyem.
I have my own theories on why the Caliwingina relationship has been downplayed by FMS. It is very interesting to listen to Gary on BRR.
Looking forward to the PFS. The timing is right for my re-entry.
FMS Price at posting:
16.1¢ Sentiment: Buy Disclosure: Held
