FRS elections are held today on share issues to AGO for cash + AGO southeast Pilbara tenements. Interesting to see a win or lose situation. Thought imo, a win is very likely as they have the support of CRM.
I think this is a smart trojan horse move by AGO, as they know WNI is the largest shareholder in the company. So in order to lure FRS into AGO's fold, it offers cash and assets as a incentive. In return for its assets, a 38.2% stake in FRS can act as security for AGO.
Once FRS goes, interesting to see the next lot of consolidation in Pilbara. BRM & BCI are likely to look for acquisitions: I strongly believe IOH's Central Hub assets + DMA are next on the list.
DMA Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
