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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Mkt cap ! $163.8M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 42 | 80.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
81.0¢ | 8877 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 42 | 0.800 |
1 | 483 | 0.765 |
1 | 16200 | 0.760 |
2 | 5573 | 0.740 |
1 | 1309 | 0.700 |
Price($) | Vol. | No. |
---|---|---|
0.810 | 8877 | 1 |
0.815 | 7842 | 1 |
0.820 | 4641 | 1 |
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0.880 | 10355 | 1 |
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