FDL is fantastic value at current prices
Given its still all speculation I am pretty confident due to some research that they will eventually become producers.
Based on the assumption that they have 325mt
Mcap 160m / 325 resource estimate = factor .50 cheap
compare that to FMG
Mcap 23,120n / 2620 resource = factor 9.0 expensiv
compare that to TTY
Mcap 305m / 9mt resorce = factor 34.0 very exp.
The average ratio across most iron ore companies seems to be about 7.0
Makes Fdl looks pretty cheap. FDL would have to increase its Mcap by 14 times to catchup. .13c multi 14 = $1.82 ps
However this won't happen until if and when they are close to producing.( maybe two years)
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