Hi Warnie,
Good analogy.
Hope there are not too many subprime lenders in there. LOL!!
My "Calcs" worked out that there is potentially 5,366,790,000 US dollars worth of prime real estate based on 390mln tns
at the new iron ore prices taking effect.
IMO,that means we are sitting on potentially prime real estate at the very lowest end.
Is FDL fair value at closing price today?
FDL 974,079,494 sh @ .11 = $107,148,744
FDLOA 381,623,899 @ .055 = $ 20,989,314
Total M/C = $128,138,058 AUD
$5,366,790,000 US convert @ 1.097 x/chge Rte $5,887,223,417 AUD.
46/1 atm or $3.04AUD a tn based on April 1st Iron ore prices.
After 2nd phase drilling which will be around September assuming the tonnage is proven the ratio could come down to 15/1.
That would make it around .33 cents a share. Don't forget there would also be $38mln for conversion of FDLOA's. That may push it up a bit.
Once that has been settled i doubt we would need to worry too much about the CAPEX costs. I think we will have a few lining up at the door by then.
Just dreaming Warnie!!
LOL!!
I think its fair value atm.
Of course as you mentioned our cow paddock still has to get through the preliminary stages first even before we lay the the first phase foundations of drilling which will be in a few months.
Patience is the name of the game.
cheers markco2
FDL
flinders diamonds limited
