9 bagger iin 8 months

In today's coverage in the AFR on FMG and the full bench decision on Twiggy Forrest misleading investors is this little gem.

"The case centres on three agreements with Chinese state-owned construction companies to build a mine, railway and port in the Pilbara region.

"Fortescue's share price increased dramatically in the period in question, rising from 55 cents in August 2004 to $5.05 in March 2005."

So ASIC is saying FMG did not have binding contracts and FMG mislead the market by saying it had - as a consequence the sp skyrocketed on the news - increasing almost ten fold in eight months.

Just goes to show the value of agreements on port and rail projects and the impact it has on a company's share price.

SDL is currently around the 50 cents mark and announcements on the rail and port are pending.