RE: RE: RE: Someone is going to steal thisThis is pretty much what happened with Baffinland. they had an incredible resource of extremely high grade ore, but the capex was the big challenge. It was floating between 0.40-0.65 in the fall of 2010 and then the offer came in for 0.90ish. A bidding war broke out, but the competing parties joined forces in the end and took it at 1.50.
The similarity to BIM is one of the things that caught my attention with this stock. I looked at BIM in the summer of 2010 when its price fell to 40 cents, but I decided against buying it because the project looked way too remote and expensive, and, let's face it, iron ore just doesn't command a very high price, no matter how rich is the grade.
Well, I was wrong about BIM, of course. Gotta learn from experience, now.
I'm a newbie on this board, so forgive me if others have already covered this issue, but has anyone done a detailed comparison of Oceanic's project vs. Baffinland's Mary River deposit?
Nice to see the FEO share price hold up well today, when everything else was crashing.