matchbox20, the ocean equities report identifies an implied value per tonne for magnetite of .26c based on the Cape Lambert sale to MCC. Once FMS has a JORC inferred tonnage there will be more to discuss on project options i.e., develop or sell but on the magnetite side of things, I just did a post on the Maximus threads on implied value ....... My understanding is that Hematite can have an implied value of around $1 to $2 per tonne but I haven't done enough research yet. Flinders and Maximus are not included in the Ocean Equities report yet so all we can do is look at hypothetical scenarios but I look forward to the time that they are included. :-) UMC is included and I suspect this has put a lot of juice in their tank as a result. I don't own UMC shares as they have proceeded already though several stages of my "if" factor I use for investing in small cap companies before they establish a JORC resource and an increased mc.
FMS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
