I think after the company spins off the IO to FI the shares will...

I think after the company spins off the IO to FI the shares will go much higher, subject to proving the resource. Another couple of excerpts from the 2003 (I am not confusing the kimberlite ferrous notation) report:
"They have been partially tested by
holes drilled on and adjacent to breccia outcrops within
flat-lying Archean iron formations of the Hamersley
Basin."
and
"the iron-flooded tops of intensely weathered kimberlite
pipes. Reverse circulation percussion (RCP) drilling of
the Cadeuceus target was carried out by Prenti in 1999
and by Rio Tinto Exploration Pty Ltd under a former
joint venture agreement with Prenti in 2002. RCP drill
samples were initially analysed for bulk chemistry and
found to be highly iron rich. This is not normal for
kimberlite which, when fresh, is magnesium rich. FDL
has been recently been testing selected samples for
diamond indicator minerals to see if they contained
anything unexpected—and they did."

I can email this report to you if you wish.