Having attended the recent RIU Explorers conference in Perth...

Having attended the recent RIU Explorers conference in Perth (Fremantle) I wanted to share my thoughts....
Below is an extract from the conference hype.....


“Leading into our 2019 RIU Explorers Conference, the event now goes into a third day and we have over 60 presenting companies and well over 1,000 delegates.”
RIU Explorers Conference already setting records two weeks out
McDonald said next week’s event had a packed program of “the who’s who of the junior and mid-cap market CEOs along with a bustling exhibition area”.
Listening to the presentations and visiting the exhibition booths would be brokers, funds, bankers, investors, government and suppliers as well as representatives from resources companies.



Just so we're clear - this was not false advertising. I lost count of the number of brokers, bankers and investors that I talked to at this event. Several junior explorers per day gave in depth updates as to where their projects were at, and how excited they were to share the path to production.
Few, if any, of those companies presenting, have the proven resources that FMS has already confirmed it holds (through limited market announcements and statutory reports) with varying degrees of consistency/ levels of optimism (I cite market updates from a few years back, that were recently shared on HC, where the tone was markedly more upbeat than in the last year or two).
So, for a company citing one of its core reasons for de-listing as being an inability to secure investment, it begs the question what EXACTLY has FMS been doing to secure additional investment?
This conference was tailor made for junior explorers/ miners looking to showcase/ secure investment for their projects.
It was held about 20 minutes by car from the FMS head office.
And this is just one example......

We, as shareholders, are paying somebody $10,000 per week to work PART TIME on developing this project (FMS have reported that David McAdam works four days per week. My apologies if that has changed, and I'd welcome any information to the contrary).

What are we spending on bringing this project to the attention of potential investors?

What are we doing to update potential investors on the progress we must surely be making, by investing in Mr McAdam's expertise - at what is, at $10,000 per week, an extremely high cost burden to our company, given his part-time status?

Who is responsible for marketing the PIOP project? Especially in light of current/ projected Iron Ore prices and market demand for the grades PIOP has already proven to hold?

What have we done in this regard in the last three years?

It's very hard to invest in a project when you don't know anything about it and the company behind that project doesn't appear to be actively promoting it beyond its statutory reporting obligations.

In the case of FMS - how many shareholders would benefit from the current approach I wonder.............?

On a separate but related note, I don't know if anyone saw the ABC repeat of the FIFO/ mining documentary at the weekend - one of the statements made was that our current (discovered) Iron Ore supply, that was estimated to last seventy years - has HALVED over the last decade. Think about that, and ask yourself if in the right hands, we would really struggle to get this project off the ground…….