Hello Novak,If you are an average good bloke who cares as stated...

Hello Novak,

If you are an average good bloke who cares as stated in your post would you please tell us on which stocks you consider we will definitely make money as a consequence of your superior knowledge. Given that you seem to have a clear ability to identify stocks that you feel only mugs would invest in you should be able to tell us a few stocks that will definitely go places or at least we wont lose on.

I note that on the one hand you say that not enough work has been done to justify the hype then in another sweeping statement you infer that based on results so far the stock is a dud. Seems to me that at the moment we have taken a hammering but I put it down to poor reporting in the announcements by FMS.

The reality IMO is that nothing has changed but the reference to an average of 45% to 60% range has spooked the market. Kevin Wills has on todays BRR xplained the basis for this reference and the way I now interpret it is that the geologist (Dr Russell) was required to express a range that covered from the lowest to expected highest %fe as a target. The reality is of all the samples in all areas to be drilled only one of the samples reflected the low end and actually had 48%. All other samples were higher and the overall average was 59.6% bearing no relationship to the 45%. I guess Dr Russell has tried to estimate the likely lowest readings for some areas as 45%and the likely higher readings at the top of the range as 60%. The drilling program will determine whether the overall average range is as per the rock chip samples that is 59.6% or whatever. Once again my understanding is the company based on Dr Russells report is targetting an average of 55% as this is a likely conservative average figure. I heard Dr Wills state on his clarifying BRR interview that based on the sampling some locations could have up to 65%fe. The drilling program will determine the actual situation.

I have also listened to Wills talk about the discussion on grades and he is telling the market that while the channel iron differs to the high grade ore at Tom Price the iron in the region of the FMS tenement has a water content whigh will be blasted away in steel furnaces resulting in a very high grade of ore that is very desirable to steel manufacturers.

Novak, I have yourself making claims about just about every aspect of FMS io grade, potential, impurities etc and I guess you make those statements without specifying your Qualifications in order that we simple people can make a judgement about whether FMS is likely to find an IO jorc resource. On the other hand we have the CEO of a company appearing to make a contrary assessment to your own. Whom should we believe? If I were to take your word as to the worthlessness of the io from current drilling due to the level of impurities you percieve in the results, should subsequent accelerated drilling find that io grades increse in quantity and low impurities would that change your perception or would you simply take another tack to criticise the stock.

While I dont know whether your views on impurities are an accurate technical reflection of the position I will take your advice and research this subject in considerable depth. I will also compare FMS results as they come to exploration results by other companies in other tenements, including one which you hold in high regard. I will compare the FMS drilling to the comparative stage results in other companies.

cheers
Sav