I think everyone's placing too much value on the "diamond exploration" component of the company. When FMS (FDL) was just a diamond explorer, two years ago, the shares were valued at around 1 cent. It took the iron ore find to boost the share price to its present value.
As I see it the diamond exploration component is probably still around 1 cent.
Shareholders may have a lot more to gain by the company focussing 100% on iron ore and fast-tracking to production rather than spreading the company thinly looking for elusive diamonds (and phosphate).
Not to mention that the company, as a pure iron ore play, should be taken a lot more seriously by the market and therefore be worth more as a take-over target or JV.
My 2 penneth worth.
JC
I think everyone's placing too much value on the "diamond...
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