Just because FMG is 28 dollars a share does not mean it is worth 28 dollars a share.
The other thing is FMG got going because, IMO, Twiggy got involved and those in the know felt he had the political pull and and connections to get it going and the project was in the wheel house of the sphere of influence some like to make global decisions about so obstacles probably would not stand in its way despite ups and downs.
Chuk, I think you are probably on the level in what you believe, and the executives of MNB could be doing their level best, no reason to charge anyone of anything but the risks need to be brought home.
WA is within five eyes, Angola is not. The fact is some elsewhere may not want to get this up, or at least delay it for as long as possible. There are plenty of sanctions and other hoops that stand in the way of many these days, it is a fact all of us cannot ignore. I hope this is not the case for this project as i am invested in it like you, but it is not impossible and other projects even from Australia have been blocked from global authorities deeming it not in their interest. With sanctions and other impediments, especially in Africa where clashes of spheres of influence occur it is possible a projects direction can go pear shaped even if via external influence. This is where funding becomes important, sources of funding becomes important and operational delivery becomes important like the phosphate plant, because otherwise it is just a story, albeit good story, that could easily be scuttled from afar if certain powers at be want to wield their influence and force it to be, or not to be. I hope for our sakes and the Angola farmers the project gets up and we all reap the rewards, but currently the risks are still there and need to be acknowledged as investors being astute to manage our prosperity as well as we can.
It is not as if any projects in Africa are not affected by geopolitics, and counter interests of a few at the moment, without naming any of them.
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