I can't wait for the market to open tomorrow so I can pick up some more.
I have been trawling through the FMG website, and while FMG and Sundance are different beasts I think there are a lot of similarities.
FMG's share price in 2006 was around 50 cents - where sundance is now, and it was two years away from first shipment - again where sdl is more or less.
Over the next two years, and despite a massive CR in August 2006 of $3.2 billion FMG's share price rocketed to $13 or $130 if you take the 10 for one share dilution around the 50 dollar mark into account.
During that time just about every stock broker in the company bad-mouthed FMG and told clients not to touch it.
First shipment of iron ore out of FMG was in May 2008 and three months later it has shipped its 10 millionth tonne.
It's interesting to note that the biggest growth in the FMG share price was in the two years leading up to first shipment.
As that date edged closer and closer the sp went higher and higher.
If Sundance can hit its targets it seems we're in for one hell of a ride.
SDL Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
