FMS 42.9% 5.0¢ flinders mines limited

Macquarie Struggled with Flinders Mines AFR

  1. 332 Posts.
    has an “underperform” on Flinders Mines (FMS) and a price target of 1¢.

    “We struggle to see how FMS secures funding for its mine and port development for the PIOP [Pilbara Iron Ore Project] in the current iron ore price environment.

    “Furthermore, the quality of the resource is well below benchmark both in terms of grade and impurity levels and remains a key risk to the project.”
 
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