a yes vote is your last vote ever in fml, page-21

Gents,

first for Juju- some proprietry maths-my own

After talking to a associate about another issue.I broached this deal with him,he regularly returns home to see parents nth of Shanghai and politics and Chinese SOE (state owned enterprise)investment isn't exactly something someone in his position would open up about willingly,but he did for me.We had a good hour or so on topic.They keep their politics in balance.The party head gang of eight is 4 from Shanghai and 4 from Beijing and at that level very democratic to keep the power decisions balanced.

The consequential conversation may have me voting yes.

He confirmed much of what DT has said.If you need technical input,then yes the Chinese excel.However forays into overseas management have proved disastrous and acquired business failures are more regular than you can believe,i was told.

This is as much a learning episode for them in western business transactions and western business details.I suspect the new directors will do exactly that,with a view to leaping the cultural divide and their own knowledge.Another reason for this overseas investment is Chinese taxes are beyond onerous.Easier to grow overseas and keep profits made from there.

I can see FML becoming a purveyer of for example high quality mining media(balls) for one and instead of another miller saving $1m by getting lucky with the right Chinese supplier as FML has done,FML and them can end splitting the $1m saving between them.This was hinted at by DT as another angle to be taken on this transaction.

The 5c price draws two angles.These investors(if new directors end up making a mess of it),could find retribution from state rulers,if they make a wrong decision with public funds.

5c is a bargain.They see the value at twice this,i have no doubt and that is without synergies.To offer any less would insult management,WHO THEY NEED TO STAY.It would also insult shareholders,WHO THEY ALSO NEED TO STAY,they know in the majority,they valued this business so much higher and would not sell without a fight.

I for one no longer consider we are dealing with the STONES of this world.

This is definitely an invitation to join a family as a junior member,with respect for who and what we are,what we bring to the transaction,shareholders included.

The reality is shareholders with happy SOE Chinese majority holders will make FML and Shandong shining examples of what can be achieved,especially,if you are approached in the future,by Shandong with a similar offer.Shandong plans to grow.
They NEED this shining example.
It's really good for Shandongs future global business.
They NEED THIS TRANSACTION to proceed successfully and profitably for everyone.

In this they have more to lose,Where i live you don't disappear from public view,nor do your relatives get sent the bill for a bullet,by the local police.Other places are less forgiving of failure.

Will they leave FML alone,NO guarantee,but they know the risks of meddling and have decided to buy as much of FML as they can,if shareholders will accept them-FOR THE MANAGEMENT and the resources of course.The management and operational staff is what they need to manage an invigorate their Australian investments and must be viewed as more valuable than the resources.

I hoped Barrick would do a deal and reinvigorate its Australian operations,by taking this stake and letting FML management run amuck with their sites.They are selling down globally.
I'm over the pessimisim and onto the welcome,you bought this company for the same reason I did.
Our business interests are aligned and you are providing me a level of security that does not exist in any other miner.
You cannot afford to let this business fail,even in bad times.
You don't begrudge paying half its true value.
I can't speak your language,but i can certainly party with you over the profits to be made.I'm sure you'll ensure the are there and i get my fair share,for no other reason than it's really really good business for Shandong and Shandongs future acquisitions globally to point to us and the success that has come from your involvement.

There must be an acquisition in the wings for FML is all i can say.500k oz was mentioned,once again.
Shandong and I Can't wait.

DYOR+DYODD Go on I'll admit it finally---YES