FEX tell tale signs on Expansion, page-13

Hi Rooks,
If your reference to the dates is trying to point out that this deal was signed when Rob was still CEO and MD I think it is very unfair to blame him alone for a deal you think is a dud. The Board will have approved the deal so I am sure they will take full responsibility.
Anyway, I am not sure why you think this deal is a disaster?
The original earn-in deal announced in Feb 2021 required Fenix to sole fund exploration to define 10 million tonnes of iron ore to earn 70% of the tenement. I assume this would have required expenditure of many millions of dollars that may not have resulted in any outcome. Instead Fenix have issued $1m of shares and now own exclusively 100% of any and all iron ore rights.
Whether it is a good deal or not depends on if there actually IS any iron ore and also how much money Fenix was required to invest in exploration in the old deal.
However, to assume that $1m of equity for 100% of the Fe is a dud deal could only be correct if you have knowledge that the ground has no value and both deals were duds. Do you?
To me the second deal made a lot more sense that the first earn in.
J9