Ann: Key HPA Project Stage Completion, page-103

".... But you accept your risks in the market, blaming Roly is unfair".

It is absolutely correct to lay responsibility for the current debacle that is FYI at the feet of Roly. He is the MD of the company, and played a central role in the negotiations with Alcoa and the poor deal that FYI ended up with. Effectively FYI management surrendered control of FYI to ALCOA by issuing them ~679 million options @50c each (the maths is straightforward - see post # 61131275 ). Considering the low level of investment that ALCOA have put into the project to date (a few million $ ?) and the fact they retain the right to withdraw at any time, why have FYI surrendered control of the project ? Some holders may say that the Alcoa deal is the best option going forward because FYI would have been too small and lacked the finances to progress the project alone. If that is the case, why was FYI promoting itself as a company planning to build at 10000tpa HPA plant with an US$1 billion NPV.? I'd say without hesitation that past and present FYI shareholders have been dealt a raw deal by FYI management.

All IMHO, DYOR