http://www.bby.com.au/internet/research/daily/PDF/ironore.pdfThis...

http://www.bby.com.au/internet/research/daily/PDF/ironore.pdf

This link gives comparisons of some other iron ore players in the Pilbara region.

Some like NFE SRK GRR CFE and SPH are magnetite but the chart even converts this over for you.

Just as an example.....

AGO has 334mt.......about the same as what we "think" FDL will have as a minimum......I think much more but lets go with that.

AGO MC is $490 mill
FDL is $175 mill (fully diluted)
would include $38 mill in the bank.

ARH 344mt and MC $750 mill.......FDL $175 mill


lets find the worse iron ore buddies...... and they are magnetite not hematite....

NFE MC 300 mill - magnetite
SRK MC 133 mill - magnetite
GRR MC 213 mill - magnetite
CFE MC 158 mill - magnetite
SPH MC 304 mill - magnetite

FDL MC 175 mill.....lol......possible over 300mt (Hematite)

Sitting between RIO and FMG
Infrastructures very close
Already proven resources surrounding everywhere

This is really not a difficult scenario to work out

cheers