Perhaps you should do more reading rather than writing, I have made it easy for you just click on the links... :)
They have iron ore...
"Samples contain from 48.1 to 64.9% iron with an average of 59.6%." IRON ASSAY RESULTS
and they have an estimate resource from a commissioned initial study by independent iron ore consulting geologist Dr Richard Russell
"exploration target of between 325 and 390 million tonnes of iron ore" 325 to 390 MT IRON ORE
Flinders have also recently increased there potential tonnage of iron ore with the procurement of a tenement from Cazaly.
"E47/1560 located 15 kilometres southwest of Flinders’ 100% owned E47/882 in the Hamersley Ranges, WA. E47/1560 totals 44 sq km of ranges and valleys with high potential for channel iron deposits." FLINDERS ACQUIRES IRON TARGET FROM CAZALY
The market needs confirmation of the tonnage and grades in order for the correct MC to be given. They are currently drilling with regular updates, just like the one today.
Iron ore expert Dr Richard Russell has been contracted to assess the geology and target size potential of the new acquisition, and this should be out shortly as well.
A large drawcard is the relationship with FMG a current producing miner and proximity to infrastructure and transport.
Out of all the specs this has got to be one of the lowest risk for the potential reward IMO.
FMS Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
