tccham,
FMS Total Inferred Resource:
476mln tnns
55.4% Fe
9.8% SIO2
4.6% Al
.07% P
6.7% LOI
UMC Total Inferred+Indicated Resource:
122mln tnns
58.3% Fe
4.5% SIO2
3.4% Al
0.06% P
7.97% LOI
Apart from UMC having a much higher grade with far less Silica,and being further along in its exploration with it expecting to have the details as a Measured Jorc Resource within the next few months. There are far more unknowns and risk with FMS than UMC. The quality of grade speaks for itself.
Based on that $1 a tnne value for UMC is pretty low.
FMS Value per/tnne should be closer to .20 cents a tnne which would equal 7.8 cents a share. Suppose you could add another half cent to allow for WilliamShannShann & Druidic hype.
Cheers markco2
tccham,FMS Total Inferred Resource:476mln tnns55.4% Fe9.8%...
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