Thanks King, that makes me feel better. If you don't know who Iron Ore Holdings (IOH), Flinders Mines (FMS), United Minerals (UMC) or Brockman Resources (BRM) are, then it shows you have no idea or experience with junior iron Ore players in the Pilbara.
These would have to been the 4 best known juniors in the area.
Just to recap....
IOH - Market Cap approx $120M. Backed by Kerry Packer. Next to Rio as well. UMC - Market Cap approx $200M. Takeover by BHP in play. BRM - Market Cap approx $280M. ASX 300 Company. 1.4 Bt JORC. FMS - Market Cap approx $220M. Next to FMG.
In fact, FMG is a good case study. FMG went up over 1000% in 2 days after announcing a tenement next door to FMG. Their market cap was well over $100M before a drill rig hit the ground. I believe FMG could easily be defined an "overnight sensation". In fact, if you had waited for the rig to start drilling, you would probably be sitting on a loss right now, not a gain. (and they now have over 500mt in a JORC and a market cap over $200M.
If you took notice, you might have noticed me posting on IOH only 10 months ago, at 10c. IOH are now $1. HEM is in a similar position to what IOH was back then.
If you love "informed risk", then take a little time to be "informed"....
HEM Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
