Fortescue verses NML
Just got this from the Fortescue website. This really demonstates the value of NML. Just check out the resources listed at 2.4 billion with another billion reserves while we (NML) have 5 to 7 billion tons. This is unbelievable as Fortescue has a market capitalisation of 14.1 billion dollars. With 279,000,000 shares trading at 60.00 per share.
Fortescue Business Description:
Fortescue is the New Force in Iron Ore with over 2.4 billion tonnes of Resources, including 1.1 billion tonnes of Reserves already delineated from less than 10% of its 40,000 square kilometres of tenements, the largest in the Pilbara.
Corporate Overview
Shares on Issue: 279,912,043 issued shares
2,229,375 unlisted options
Capital Structure
Listings: Australian Stock Exchange (ASX code: FMG)
ASX Announcements
Market Capitalisation: Approximately $14.1 billion as at 1 November2007