iron ore, page-146

"If it's well known that there is 390Mt, why would people get excited about a 8m intersection of CID that lies 50m under the surface with no grades or impurities?"

You know the answer to this question, but I'll answer it any way. Holders belive that FMS have the ore and this is the first step in proving it and thus if it's proven up, it'll attract more risk averse investors and will result in SP increases. Holders are excited because they're a step closer to a financial windfall, assuming the ore is there at a good quality.

Also there is a suggestion that they may have more ore than forecast. The drill hole was on the edge of a CID that was predicted to have an average thickness of 8 metres. If the edge is 8m thick it's likely that the centre is a fair bit thicker, thus pushing the average above 8 metres, the result being more ore than forecast.