"what makes you think that BID with < 60% Fe is going to be even worth mining?" A fundamental question has to be answered!
1. The so called low grade IO with 53-62% has made FMG and risk the monopoly status of BHP and RIO in IO sector. 2. The Chinese Media cheered for the discovery of a 1billionT IO with 27-30% Fe last year. It stays deep underground and thousand meters away from the ground. 3. There are billions of people need the IO as necessities. High grade is a word relative to the time you talk about. What's the high grade IO in 1950? 4. In the financial crisis, everything is discounted. IO has been discounted greatly but if the sunny days back...
If FMS has 1billionT IO, this IO will make it. I believe it and so I bet on it.
FMS Price at posting:
6.3¢ Sentiment: Hold Disclosure: Held
