not really sure how to reply as your post did not ask any...

not really sure how to reply as your post did not ask any questions... maybe you do not understand punctuation.

while fms does have a large number of shares on issue it is up to the punters to decide what the value of these shares is; something is only worth what someone else is willing to pay for it. have you considered that if someone was to really do some serious fms ramping then you, pelm, would be the first one to pronounce that they are daft mug punters dumping money into the (in your opinion) worthless holes that fms are drilling, this makes you as much of a misinformed ramper as any other person here... its just that you are down ramping rather than talking the stock up.

It is impossible to say that you are wrong, as not enough is known about whats actually in the ground, however that "known unknown" makes it just as impossible for you to claim that you are right. And speaking of being right, you should pay attention to your own post script... just because you win an arguement does not mean that you are right... does that mean when fms JORCs up 400mt of io that you think you can still say you were right at the time; that fms was overpriced back in August and its just sheer luck that the io was there all along? Just keep in mind that if fms JORCs nothing, it still does not mean that YOU were right, just that the coin was in the air, you called heads, we called tails and it fell your way.

So you've clearly made it known that you think that the sp is too high... great, dont buy fms, look for better value else where. I for one am going to sit tight for the rest of the year

Pelm says...
"fms will not make you rich, if you believe it will you are wrong, the market cap is way too high now for the position that they are in."

I disagree, and I believe that this conversation has been had before, so all I have to do is put in a quote from Warnie, who wrote the following in response to your persistant, misinformed downramping awhile back...

"...At 17c one must consider the possible upside versus the downside.

Downside, find zero.....SP back to.... 1c....but highly unlikely there is nothing.

Upside.... find 300mt of nice grade ore.....say $2t as a minumum(conservative).........

MC should be $600 mill or 40c a share give or take.

So if you buy now you can make 150% minimum or lose 90% maximum.

I guess the risk sits somewhere in-between.

I dont think anyone doubts there is ore ....how much and what grade is the question.

Its obvious to me that the market believes there is plenty of ore , otherwise we would not be at 17c.

So that in itself should tell you that the risk of finding a fair wack of ore is highly probable.

Again... whether FMS do or do not really doesn't matter, the SP will make a run each time they prove up just that little bit more ore, and that's what we are all here for....I would have thought.

I dont have an issue with anyone who disagrees and thinks the MC is too high or that the whole story is crap and Big kev is just wasting time and money, but if I was a gambling man, which I am, I would have odds showing a more than 60% chance about FMS finding 300mt or close to it.

Therefore I think its a buy.

If you dont believe then dont buy, but really whether u believe or not isnt the main point, the point is enough people do believe that will drive the SP up anyway.....so it doesnt matter.

The trend is your friend...dont fight it..."

Pelm, you did not seem to disagree with Warnie on that point, so you went off on a tangent ( a normal would be a more appropiate description, if we speak the language of mathematics) and changed the subject then, as you do every other time someone lays down the facts at face value.

we all know fms is a gamble, but buying in now, before the quantity and quality of io becomes a "known known" means that there is a higher risk, therefore a higher return on investment.

I do not doubt that any of this is news to you, i do not take you for a fool, i just get tired of reading your posts; the repetitiveness, style and motive for which can only be for a specific agenda.


"fms has some neighbours that have some ore, some of it thanks to fms. To say that the ore definatley extends into the fms tenements means that you do not understand geology"

Pelm, I know enough about Geology to know that in nature, there is no such thing as a straight line, therefore to say that it is even remotely possible that the proven iron ore of our neighbour's resources form a perfect line and stops precisely at the boundary of fms tenements is ludicrous.

Surely you must know this, therefore i can only assume that you are that desperate to deflate the sp that you are grasping wildly at straws to the extent that you are now discrediting yourself.

regards

the phatman.

p.s will look forward to your return in a few weeks, hopefully we will have some announcements out by then, so make sure you bring an apology with you when you return.


always DYOR