re: fortesque fmg Roamer, they don't even have an idea whether...

re: fortesque fmg Roamer, they don't even have an idea whether there is economic size iron ore there in the first place! How can you talk about a project getting over the line already when they haven't even begun drilling yet. They have a hunch (and it is a good one) based on geography alone, but this project is still at the exploration stage.

With the recent (18%+) rise in iron ore prices secured by BHP, both BHP and RIO will pump up their iron ore production rates to the max to take advantage of this. Eventually in a year or two supply will catch up to demand and this small window of opportunity to make serious $ in iron ore will dissapear.

Considering that FMG has to build its own infrastructure, railway line, has to raise $1BN+, get the project from an exploration stage to the production stage - by the time they do this (if they ever do) market conditions will have already changed.

In my view, the easiest way to make money and take advantage of the current situation is to look at the smaller guys that 'dig & deliver', PMM, MGX, CSM... They don't need to spend so much money on infrastructure - digging up and shipping the ore to China is simple, cheap and profitable. Just from my experience, these huge infrastructure projects never make money for their shereholders and rarely ever make it over the line. Take a look at the magnesium industry (Australian Magnesium or whatever it was called and MIL) - dogs. Also, the iron ore industry is littered with companies pursuing these grand dreams which ultimately only went belly up.

Yeah and with Andrew Forrest, he did a great job with ANL. Nearly drove it to receivership. Great promoter and marketer - don't know so much about how good he is at running a company. Good managers are usually low key, head down, no fuss type of blokes - just from my experience.

Like I said, good luck with it, its your money. I would stay as far away from it as possible.