re: Ann: Buckland Project PFS Delivers Posit... Current market...

re: Ann: Buckland Project PFS Delivers Posit... Current market cap is @ $125 mill undiluted.

Cash at hand @ $100 mill.

If FMG take up the Iron Valley option, they pay $25 mill directly to IOH straight up. At the current SP, that would leave us effectively trading at cash backing, and valuing all projects at zero.

So it appears that the market is currently punting against FMG taking up the Iron Valley option.

I'm hoping Mr Market is wrong, the FMG deal at Iron Valley would really underpin things nicely and allow any deal at Bungaroo to really add some cream to the cake.