FMG recently did a 1.5 billion (please correct my if my figures are way off) debt raising. Anyone think that Iron Valley is a target as a lead in to their Pilbara blending ore deposit? Perhaps they are just hoping iron ore prices drop a little so they can bid a lower price? It has to be on their radar in the short term before IOH get to DFS stage and a tie up a deal with RIO.... Time will tell, but my call is for FMG to pull the trigger before the end of Feb 2012.
IOH Price at posting:
$1.27 Sentiment: LT Buy Disclosure: Held
