Thursday, November 22, 2007
FDL.AX - Blue Sky Ahead
FDL today revealed a potential 300m tonne plus deposit right next door to FMG. This is sort of size that MIS has and it has a market cap of $900m. FDL is about $60m at the moment and gaining rapidly. They also have a right to earn a 1% royalty from FMG on any JVs, which should fund further exploration activity. This is a very speculative trade, but it doesn't hurt to follow the weight of money that will surely pour into this trade.