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Man I love a good argument about this stock!!!
Thankyou, ripped, for suggesting that I am a fool. I have done some homework on FCN (ie. the announcements) & the only conclusion that I can come to is that they DO NOT know what they have at Collurabbie. What they DO know is that a few drill holes has intercepted a Ni/Cu/PGM mineralised structure that has hitherto remained undiscovered. Geologists on all the teams involved have, as geos are apt to do, begun dancing naked in the streets proclaiming the discovery of a new Ni province. Pretty optimistic proclamation to make, not out of the question by any means but still a few kms & several months of diamond drilling away at the least. As for a mineable reserve, well you could do time for murder & still be waiting...
The leverage to be had in trading FCN, by virtue of the small share register & the exposure to this highly prospective area has pushed the price into the stratosphere! AU$100+ marketcap UNREAL!!! That is an awful lot of metal that as yet they do not have.
Any less than positive news will slaughter this stock.