20103030---as i see it we have an investment company prepared to...

20103030---as i see it we have an investment company prepared to pay $260million for a 50% stake in the SHIP,conditional upon FAS raising a seperate $65million.If someone is paying $260million for half of a project---to me that says that 100% is worth $520million---by the time all the 2014 10cent options are excercised we will have roughly 1.5 billion shares---$520million divided by 1.5billion puts a market capitalisation of roughly 35 cents/share---1.7 cents looks pretty cheap.I know we are a long way off production (15 months i think)its not rocket science to see that as soon as the $65million is secured and a solid off take partner locked in there should be a significant rise in the share price.Looking at possible future prices of iron ore of the grade being supplied by FAS its not difficult to see a profit margin of $80/tonneX3million tonne annual target--=$240million profit annually--allowing for company tax and royalties etc,it should still show a clear profit of $150million=ten cents per shareX a p/e of 8 should equate to 80cents ----with half going to the partner this still leaves FAS with a 40cent price target----before they increase their resource to the north,plus other gold and Uranium tenements that can and will be enhanced with the iron ore profits.I hope this clears a few points for you and cements the reason to hold on to your investment as long as you can---please remember these are my opinions and you should seek further financial advice from a licenced adviser.Good luck with your decisions.PS---i am smiling from ear to ear from todays announcement.