Love people's thought on this one as an iron ore play. I recently did some comparisons with this BRM and AGO. Obviously all are at different stages but I found AGO expensive relative to the other two.
I also found FRS stupidly priced unless I was missing a vital piece of information to the jigsaw puzzle when compared to the other two. BRM did also look good as well.
I do like the announcement of the 16th of March 2009 with suggestion of a potential off-shore investor. I also remembered reading somewhere that the project's worth was 8.5 billion dollars using a US$55 tonne figure. With the recent upgrades well I'm wondering whether this figure is still the same?
Add to this:
What appears to be experienced management
The total iron ore resource inventory for FerrAus’ licence areas in the East Pilbara has increased to 164.4 million tonnes grading 58.6% Fe.
Market Cap. – fully diluted at about $ 50 mn @ 29c per share
And the recent consent to mine on the East Pilbara project
I wondering what the pitfalls of the Company are.
The only issue that I can see is the rail matter which several others are also experiencing and hopefully there maybe a resolution too soon.
Comments appreciated!
FRS Price at posting:
29.0¢ Sentiment: Buy Disclosure: Not Held
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