This is one for the bottom draw!
Hold, Hold and Hold. This is classic Supply vs Demand. IO is hot at the moment and someone/thing will want the company or tenement.
Now everybody knows what might be in the ground. Other than FDL, FMG would have the best idea of what FDL has within its boundries. Patience is the key.
This will be heavily traded without a doubt and may retrace (look what happend to INP the following day). However, FDL has IO. How much? What grades? What depths? etc we don't know yet but we do know that FDL are in a JV with FMG and have a huge resource of their own on the fenceline.
FDL has been compared to SDL on HC by some. Completely different companies and strategies. Stick to what you know, that is there is IO next door at FMG and on the fenceline. FMG have the assests and demand for IO. Not exactly a no brainer, but a pretty good stock to hold if you got in yesterday at a good price.
I was going to sell today but after a bit more research last night I am happy to hold and ride out the next few months (with the odd trade here and there).
FDL
flinders diamonds limited
