You are comparing apples and orange sydneyguy
FMG was not a sure thing as you. Iron ore prices have crashed since FMG was at $3. The company is in deep mud, not to use another word. More than 6 foot under.
Uranium prices are the same as they were 2 months ago when this was at 44 cents - and I was complaining when the share price was 44 cents that is was too low. Imagine what I am doing now. And in the meantime, the company updated the market that is was selling at above $41. Share price should have gone up to around $1 by now, given all the good news.
This is being thrown in the same bucket as junk stocks like ERA and FMG and shouldn't be. Actually even worse than junk as judged by yesterday's crash. Insanity rules.
As for the Chinese it would make more sense that they would sell out of their own market (if they can) and buy into a safe haven like PDN. They need to put their billions somewhere.
Cash position per share, page-23
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Mkt cap ! $3.417B | |||
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