For a start i'm not downramping here...i agree the potential is there...
FHS has circa 60m tonnes (from memory) @ 19% Fe....(my best guess without verifying..) there's a few others out there at a similar stage with more grade and more resource than FHS, that are better value IMO. Until they start turning some of this potential into revenue, there isn't a compelling enough reason to trust the potential. Don't get me wrong, a good start with the planned 5mt a month mining operation, but at current prices, how much free cashflow will that generate? What's the cost to mine? $50/tonne? $60/tonne? at best you're looking at maybe 200k-250k a month free cashflow. For me, that doesn't support a 45m MC right now... show me 15-20mt a month and FHS all of a sudden looks more attractive.
AIMO
GLTAH
Ann: Large Potential Copper Structure Identified at El Dorado, page-57
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