upside valuation

Well, I know I didn't lose any money on FDL . I hold some but have traded plenty . I am free carried, have money for the taxman, and enough profit to cover some other ASX shares I hold in loss .

I really think some knockers need to get off the bitter pills and look at reality . We know that Fortescue metals has 25% of ther recent Billion tonne resource in FDL tenement . Therefore we know that the FDL tenement has iron ore .
An independent resource estimate has declared that there is well over 300 mllion tonnes of iron ore at 56% on FDL tenements .
So lets assume that the professional who made that estimate is wrong and FDL have only 150 mllion tonnes
It is inground so lets say it only worth $2 per tonne, when we know that is ridiculously discounted also .

So we have 150 million tonnes low end estimate * 56% Fe * $2 per tonne inground = $168 million worth of discounted iron ore plus an extra $8 million royalty from FMG = $176 million .

FDL's market cap today closed at $85 million .
This is still very cheap people. At least 100% undervalued on discounted ingound low estimate resource . Do your sums .