why are we buying cfr.., page-10

Kevin 103,
Two points:

1) Cluff's application is for 10 sq km, whereas FMG hold 40,000 sq km in the Pilbara.

2) When FMG acquired their landholding, the iron ore present on them was worth zero, because customers wouldn;t buy it. However, it was a smart, forward thinking move by them in times of depressed iron ore prices.

FMG hold 4000 times the landholding Cluff are looking at.

So, while I agree it's promising, lets keep it in perspective.