1148 [Dow Jones] Flinders Diamonds (FDL.AU) still climbing as market digests news of iron ore target of up to 390 million metric tons. FDL shares up 23.6% to 11 cents after touching high of 15 cents, extending huge gains made Thursday; stock closed Wednesday at 1 cent. Buyers are betting Flinders can prove up its iron ore target and then team up with Fortescue Metals which has a billion ton resource at adjacent tenements. With market cap of just A$107 million, a takeover from Fortescue or Rio Tinto may also be in the cards. (APW)
FDL
flinders diamonds limited
