What a difference a year makes !! Perhaps a chartist or two...

What a difference a year makes !!

Perhaps a chartist or two could do a 12 month & a chart since 1st of July (SP was 6c).

Flinders is in steadier waters, IMHO. In a post-GFC era & with a inferred resource of 511 mT, their SP is back to 14c. With cash balance of $18.9m & 2 more rigs coming later this month, they seem well set for the upcoming drill campaign. All this is good, for the near term scenario.

Some of u will remember this stock having a good run into the 20 cents in May 2008, but that was tied largely to traders speculating on the FMG angle whilst FMS were still in their earlier stages of their drilling campaign.

Back in late '07, all Kev had was Dr. Russell's desktop analysis, which has been spot-on as is evident from the drill findings. 52 weeks later we now know that there is DID, CID & BID buried underneath, in E47/882 (i.e their Anvil Block). The later (BID), was the surprise package, as they only expected CID & DID, as was seen in the outcrops.

This BID, is mainly unadulterated & high grade, when it comes to blending 'Fe' for a DSO type, so it should support their plans for 20mtpa capacity for 10 years.

As Kev said in his preso, this could come from Area D (Delta) alone which has 148 mT plus another 100 mT of BID, that hasn't been accounted for yet!! Delta target has exceeded their expectations.

With the recent splurge of funding coming from China, IMO, Flinders are better placed at a table, and hopefully the mkt will see this as a sign of consolidation for a junior iron ore stock with 511 mT of inferred resource & their SP should correct itself.