I have not been burnt by fms, I traded it a few times on the day of the super ramp, when it went up to 11.5 or what ever it was.
Since then I have witnessed some un-believeable posts on this thread, from conspiracy theories to down right lies.
The claim that there will be One Billion tonnes is just not right given the evidence so far, the most the company has said is 779m yet through the magic of hotcopper it has since grown to 2 Billion. Area "E" which is supposed to be the largest area, has not performed under the ultimate test, "The Drill Bit". So far it is below all estimates and has now become a lower priority.
Just having a resource is not good enough, the Pilbara and other parts of the world are full of low grade ore. Why would this deposit be any different to the other stranded low grade one's?
There is no credibility in this company, they wandered over the Pilbara tenements for years, didn't they notice the Fe, they then gave away 220 Million Tonnes but kept the diamond rights, if it wasn't so serious, it would be funny.
They constantly release "ramps", the diamonds that weren't, the time line for the Jorc, how many other Fe companies release drilling results on a weekly basis?
They raised money to drill the Fe, yet used millions to prop up a sister company that looks like it is going to need a third injection from fms, this has been a complete failure, why aren't shareholders up in arms? The money has evaporated!
I know a bit about mining in the Pilbara and know that things don't just happen and when they do, the cost in high.
What makes so many people think that this company, an explorer with no proven resource will be any different to other Pilbara Fe hopefuls? It only has two tenements. Why are there no insto's on the register? Because it is retail holders only that believe the spin, the same management, flew some mags and came up with a 3 Billion tonne estimate, lol.
The market cap is way too high for the stage that it is at, what price will the next raising be?
Too think that Twiggy is going to come riding in with a sack full of money and an access agreement is just a dream
It is good to dream though.
FMS Price at posting:
6.7¢ Sentiment: Sell Disclosure: Not Held
