Hi pilm, it seems you have done your R/D to support all of your constant negative views since the conceptual IO announced at the end of 2007.
Have you read the "MINERAL RESOURCE STATEMENT FOR HAMERSLEY PROJECT – AREA B, AREA C, AREA D AND AREA E CHANNEL IRON DEPOSITS" from Golder Associates Pty Ltd?
*** http://imagesignal.comsec.com.au/asxdata/20090401/pdf/00941048.pdf This documentation has two parts Part 1: FMS detail statement of its IO maiden JORC Part 2: Golder Associates' JORC report
All of my arguments are based on the second part of this documentation. ***
It is the documentation of the maiden JORC which FMS announced.
The Golder Associates declared in the mineral resource statement: 1. "The resource estimates were classified in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC Code, 2004). 2. At this stage of development where drilling is spaced at 100 m to 300m along lines nominally 500 m apart, the resource is classified as Inferred. 3. The mining data are... 4. All models have been reported at 50% and 57% Fe cut off grades where the 50% cut off represents the in situ global mineralisation, and the 57% cut off represents the potential direct shipping ore. 5. In general, the mineralisation is continuous up to these cut off grades with the higher grades having less areal extent.
*** Pelm, please pay attention on item 5 of the Mineral Resource Statement. It is said 1. 50% cut off in situ global mineralisation 2. 57% cut off represents the potential direct shipping ore
What's code you depended on for your facts? What's the standard or whatever which could support your declare that 57% cut off is not DSO ore.
*** We need to look forward. Before the JORC everyone did his guess work and the wise men/women could dream but should take the risks into consideration.
Who is right or wrong is meaningless to a market player! I believe you put a lot of time on FMS and its report but I wonder your objective is right since you work to find the arguments to support your view not the profit.
All of us could be great but if we work to miss the chances we waste our Greatness. I prefer I am a fool who could make the dollars from the pennies, from the FMS IO.
Now it is the time you give the true fact and don't forget to give out what is you reference.
FMS Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
