IMO yday's spike was the anticipation of the new batch of assays to come imminently which the lab has probably leaked. Its looking good for the JORC...and rerating based on the asset value. The question is who wants to take out FMS for the Ore body in the next 6 months... value 700mt over 30 years NPV as the JORC at 60% IO probability approached 100% and its way undervalued.
FMS IMO is one bright spot for the educated punt on an explorer....based on long term minability. Lots of neg news on the Pilbara for RIO shutting down over Xmas....and if Fortescue in play...the OZM debacle is also a concern. Some WA brokers spruiking it over the weekend.
IMO yday's spike was the anticipation of the new batch of assays...
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86.0¢ |
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Mkt cap ! $171.8M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 87.0¢ | 4000 | 1 |
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