Firstly, this is a farmin with a minimum spend of $3m plus a small placement, not an acquisition. Secondly, it is a fundamentally different style of mineralisation in a different state, at a different stage. This is suggesting that the other 150 or so ASX listed exploration companies with a comparable market cap have no value because FMG didn't do a deal with them either.
By this logic, my house in Perth has no value because someone else rented an apartment in Sydney.
Lipstick on the Pig?, page-20
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