Hi to all.....as always the levels of speculation regarding this stock continue to amaze me.
Just a few thoughts, and I will stay clear of the rocks awash awaiting our navigators on this journey...viz. in particular Wild Dog (Sinivit) and Tolukuma.....Rio? Really?
I think it's clear there is neither a partnership of any kind nor a deal - this is a reverse takeover. Forise end with 84%, P and P about 5%, and the rest of us as shareholders the balance.
Google will tell you Forise are property developers and financiers, and FNT was an available listed potential vehicle for Forise ....that's all. This is subject to a number of qualifications (as noted by other posters recently): the Independant Report, ASX and regulatory approvals, and the EGM on 15th March (unless parties agree to change the date).
After approvals it is reasonable to expect Forise will pack the FNT board, PM maybe will remain a director for a while, then possibly become geologist, then may or may not move on.
Paige may be retained as a director to utilize her experience as long as needed. One would hope the same may apply to Peter, at least as long as Forise intend to remain active in PNG, where Peter is a rightly recognized expert.
On that note I feel Peter probably thinks Forise will continue in PNG as long as they wish to, but the ultimate direction seems to be towards Forise's property interests in Australia.
Given the number of shares aqnd options which will be listed after (and if) Forise get going, it will need something substantial to get FNT's share price moving.
From the little I have gleaned Forise are less than communicative, as is often the case, especially where there may be language and other barriers.
It is fairly clear (if only from a couple of his written reactions to mining warden/ministerial decisions
on rejected lease applications) PM was disillusioned with some of the processes in PNG, though he retains his own interests there. He might restart, when the dust clears, - who knows, that will be up to him, and to what role he plays ongoing with/under Forise.
In conclusion as far as I could see PM considers there is good potential in the RTO, and that the deal -if consumated - is a good one in the circumstances, given RTO's generally value targets at a much lower figure than Forise is putting up, and are often quite severe in how existing shareholders are dealt with.
Who knows how things will pan out - Bulago and Muller remain good prospects.
Regards to all. I abhor this term, but here it is appropriate....DYOR.....the foregoing is only my view, and may be well wide of the mark, so read if you wish, but do not rely on it.
FNT Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
