DamoThere are so many variables.Marra Mamba for eg is superior...

Damo

There are so many variables.

Marra Mamba for eg is superior to CID.

DSO is superior to beneficiated ore.

Production sooner than later best to capitalise on current high prices.

Even though demand is set to continue production is about to explode so perhaps prices have peaked and will soften.

There is a far higher probability then that a low grade CID deposit that seeks to start mining later rather than soon could possibly be uneconomic. Too soon to tell and is why many will say FMS have got ahead of itself a little.

For FMS I would want to see higher grades than the FMG deposit it is an extension of. 56% sounds iffy to me but without looking at in depth I am not sure. However seeing 56% CID stops me looking any further. I have read somewhere that the geology may suggest FMS will get higher grades than FMG and that could make a huge differrence.

Then UMC could be said to have a much larger conceptual target but we are looking at an inferred jorc, not what the potential is, just what part of the drilling has proven so far. Even so being still at inferred status many will wait for indicated until they buy.

So basically not all iron ore is the same and not all targets are measured the same.

There are pluses with FMS. Iron Ore target in the location it is may work out beautifully for sharehodlers but risk is much higher than for UMC at this point in time.