Sorry to interupt but just getting back to this diamond thing again (and it does my heart good that shs are throwing ideas around) I cannot see a problem with dilution of our asset.
They raise 10M, and the capital of FMS increases by 10M.
I'm sure that there is good reason to do the IPO. There will have to be substancial evidence offered and that will be interesting.
However just say the diamond mining turned into a full blown bonanza then we have grossly undersold our asset. Unless sh took the risk and bought into the IPO.
However just say the discovery is a worthless flop. Then takers of the IPO will have bought into a lemon.
Really, considering what is emerging with the fast tracking of the IO mining schedule, which is exciting stuff, diamonds are really not an issue.
I wonder if this is intentional and the scale and timing of the issue are all to off load an asset that FMS don't want.
iron ore investors conference - thurs in syd, page-22
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