yep its gonna double (or more) on a rumoured JORC while producers are being smashed to kingdom come: MGX down from $3.80 to 54c, BHP halved, RIO halved, FMG down 75%.
want me to start in on the quality explorers.. all down 80-90% and your little diamond explorer is gonna double on a rumoured JORC? That even on the Companies own say so will be of low grade, (relatively high impurity), high volume ore, effectively stranded without the kindness of a big partner.
I'll lay you odds 10to1 the JORC doen't arrive at the earliest, if at all, until 1Q 09. And even then there wont be many takers/JV partners/bankers etc until the likes of MGX, BHP, FMG etc are all back up to at least 70-80% of previous highs.
There's a pecking order in the IO market and FMS aint above FMG, BHP, MGX, AGO etc etc etc .
Despite the buy side stacking there's a reason the minnows are getting smashed: flight to quality. So FMS is going to recover first?
Personally its good for a trade but when I can buy quality at 70% discounts it aint much more.
Flame away.
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Last
87.0¢ |
Change
-0.010(1.14%) |
Mkt cap ! $173.8M |
Open | High | Low | Value | Volume |
87.5¢ | 87.5¢ | 87.0¢ | $3.589K | 4.103K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1795 | 87.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
88.0¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1795 | 0.870 |
1 | 5753 | 0.860 |
1 | 882 | 0.850 |
1 | 10000 | 0.840 |
1 | 15 | 0.830 |
Price($) | Vol. | No. |
---|---|---|
0.880 | 20000 | 1 |
0.885 | 602 | 1 |
0.890 | 2368 | 1 |
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0.950 | 8667 | 1 |
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