RTA project update, page-24

Great post Jake. I agree that Todd is in for the long hall. He had to have a controlling stake to make sure the project is successful. Infrastructure is going to cost around $1bn and he wanted it to work and come in on time. Todd couldn’t afford to be working with an organization financed by a national development bank and stall for months and years as SDL had to, so, he hooked up with RTA who needed money and FMS who wasn’t going anywhere because of infrastructure. .
Infrastructure is a good business to be in compared to I/O mining. I/O price falls and minors ship more through the infrastructure as we are seeing.
Being on the board enables t Todd to know what goes on and also vote for what is best. Once the infrustucture is complete others may come on board. I expect 25mt/a is the min for FMS and they will increase tonnage.

With regard to T/O, I don’t know. There is no rush. You can see that companies can be bought at quite cheap prices with the aid of brokers and botts. Anyone wanting FMS can now get it with a great drilling program at a discount and BFS completed there is no guarantee the price is going to be much higher. The timeline IMO is going to be when the decision is made if the project is going to go ahead after the BFS.
Since people think highly of Todd Corporation,Todd seem to think that there is a future in I/O and FMS.
Interesting times.
Cheers and all the best for the NY.