FMS - "The Foundation Customer", page-489

With Billions and Billions of Dollars at stake the fight is on for Flinders.... One side wants to take the lot for peanuts.... The other side wants what they think is a fair price based on Flinders future earnings.... Billions of Dollars profit each and every year for the next 20 to 50 years, should be worth $3 plus a share.

So who is right.... Perhaps somewhere in the middle.... The Todd side would like an Acquisition like a “Champagne taste on a Beer budget”, in other words, for bugger-all.... While Flinders minority shareholders would like $3 plus.... so how do we get to the middle... when you sell a business there is a formula on times earnings, or times profit / future profit....

It does appear to me that Flinders Mines has been designed out of being able to make any serious money for itself and it's shareholders. The “New Way” is to heavily dilute our 100% owned PIOP (Flinders), into a 40% share of the new private PIOP MineCo.

So what do we do to bring fairness back to minority shareholders.... To look forward I believe that we have to look back to the MMK days, when that sole Russian MMK shareholder put a stop to MMK buying Flinders.... Sometimes to achieve fairness we may have to look at the Courts.... No one wants to go down that route, but sometimes minority shareholders don't have any choice.

So Todd... a good deal is a fast deal with no fine print.... Just show us the money and we will all put Flinders Mines behind us (as long as the price is right).... I for one will be happy with that..... Show us the Money.... Our operators are waiting by the phones, so call us and make a substantial “Take Over Offer”.... Wouldn't that be nice..

Just my thoughts, not advice.. Perhaps soon to be an ex shareholder... SET