Well, IMO there are a few reason for this and why in the future.
Lets see,
Infrastructure and Location are a good criteria for starters.
Plenty of unexplored tennements with existing targets getting drilled and results pending.
An Iron Ore project that is not fully defined also in the equation.
Currently producing and shipping Nickel.
Fox have current agreements with Jinchuan, Streeter now chairman of both FXR and WSA, in which WSA is now trying to close its Nickel Hedgebook and the potential to merge, T/O the co to contain the current agreements and extend to WSA at some stage (rumour / possibility).
JinChuan must believe it is a safe bet to get involved more with Fox even as they are currently a smaller player with plenty of upside both in their exploration and current production. If what Fox are shipping now is small in comparison and enough for Jinchuan to be interested then they have put their money where their mouth is and bought in knowing the gamble will be sufficiently worthwhile~!
Anyways, just some thoughts, looking forward Ruth Well results/assays as usual~!
FXR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
