FMS 0.43% $1.17 flinders mines limited

Ann: Balla Balla Infrastructure Project Update, page-16

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  1. 540 Posts.
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    Agreed. Surely it is now incumbent on our board to show evidence of their efforts to bring our resource to market through other options other than BBIG in my opinion?


    We were advised that they were entering into immediate discussions with BBIG previously, now we are being advised no agreement has resulted and they refer to those discussions in the past tense which means there are no  current discussions underway.


    Our board is also stating they won't advance discussions with BBIG until they understand our PIOP better. Can anyone help me with this statement?


    I would dispute the claim that it has been our board's previous practice to advise shareholders of developments in relation to the BBIG project. In fact, I would say that the exact opposite has been the standard practice as I believe they have statement many times that what BBIG do or say is nothing to do with us - in my opinion of course but I am sure there are some previous announcements that would back this up.


    All in all, my personal thoughts are that the extension was the obvious reason why nothing has been done yet and possibly a reflection of the reality that our majority SH did not expect to be in the position they are in with only approx 56% of FMS. Very happy the constitution change did not go through and the timing of this announcement shows me that that was certainly a tactical move and not simply a bringing up to standards move - in my opinion.


    The cost of money these days is reasonably cheap I believe, but an 18 month delay would be a fair bit for Todd. They must be expecting a huge pot of gold at the end of this rainbow - in my opinion. Will be exciting to be part of that return with them!!


    Lets see how this is reported in the media and across the industry.  

 
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