FMG did have a plan and it sounded very much like jcoulters'. I was in FMG when it was at 44c and it rocketed to $5 with an announcement that the chinese had signed an agreement. However, FMG did have a JORC under their belts to sell. Some say "we don't need a jorc before we start thinking about the next step", I don't agree. Without the jorc FMG would not have gotten the chinese interested. Without a jorc FMS just has a lot of pretty scenary. What price would you place on a jorc resource compared to a non-jorc one?
Once the jorc is in and its of decent quality (approx.60%) then watch all the big players start talking. Until then FMS are going to have to fund the jorc themselves.
I'm a long term holder, I'm not letting this one get away like I did FMG.
Cheers CD
FMS Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
