this is what i refered to in my last post, solomon will go ahead there is already 1 billion tonnes of resource there with more being found as more exploration continues what FMG has at present cloudbreak&chrismas creek is only capable of producing around 75 million tonnes p/a so a rail line from Solomon to Hedland has to happen there will also be a spur off to Ankatell point (shared cost with others to build and shared loading ) government is already backing this development, which will also have to be built if Twiggy intends to be at 350 million tonnes by 2017 the planning is under way and has been for sometime for Solomon,nothing is going to happen over night but with Twiggy you never know he is likely to drum up investment money from who knows where and things could move quicker than the time line i have said, at the moment we are paying for the expansion from cash flow,1 billion clear profit in september,but that's while the price of IO is up should it reduce as is predicted then the goal post will move again, basiclly i see FMG as a long term investment sooner or later when debt is reduced a dividend will follow so i just try and accumulate as many shares as i can afford to buy,i took my bonus in shares as we get 50 percent more than if i took it in cash the shares were issued at $5.06 so Iam cheering already made another 8 grand in the first week of owning them they are escrowed for 12 months who cares Iam not selling. good luck to all
FMS Price at posting:
13.2¢ Sentiment: LT Buy Disclosure: Held
