With share market you need to forward looking not driving a car using reverse mirror. At $80/t even Mt Gibson, AGO, GBG, GRR etc. IMHO will be in liquidation. Unless cost cutting is found eg AGO needs to build railway instead of trucks.
What's ahead is iron ore price will be very low for sometime. Some mines are still profitable but less.
FWL is a NEW mine and tiny scale, IMHO this will struggle in funding.
Put this way... if we are in the Great Depression in 1920's with consumers feeling depressed and you want to borrow money from bank to start your own tiny local milk bar. Who will lend money to you to start the project? But large grocery and already established like Coles and Woolworths will do very well and take even larger market share in hard time.
This is a new project like ROY & CAP and when iron ore is falling to <$100/t, bank/lender see very high risk to start mining. Further, this small scale project is not very attractive to investors.
FWL is having trouble raising enough fund for daily running cost. Clearly many holders (probably including you Eyeoverit) won't put new money in.
Just IMHO, do your own research.
LCG Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
