Approx 1.4 bil FMS fully diluted if all options were exercised....

Approx 1.4 bil FMS fully diluted if all options were exercised.

I remember reading that a Chinese company, might have been Sino, paid $10 a tonne in ground jorced DSO haematite for a takeover I forget who)

If Flinders Jorcs 390MT, this would value at approx $2.15/share, if they find a lot more DSO, like 600MT, closer to $4 a share.

But the buyer would have to have some deep pockets and get on well with RIO or FMG.

This is purely speculative however. I hold but am waiting for the SP to fall quite a lot before buying more. It may never fall of course. Hold 750K heads, had 1.2 mil fmsoa, sold for 8c, regret that, but was a three bagger. Plan to hold through the continuation of the bear market, which I think will bottom out in OCT/NOV 2008