there is a brr interview , under the code of fex . kevin wills mentions that the black cat mine, could be mined blah blah - and toll treated at a nearby mill. rms (the vendors of the black cat deposit to fex) have a mill nearby - so why don't they mine the deposit.
the reality, is that the group of companies (fms, mxr, ero, ) have a wonderful history of shareholder wealth destruction. even fms, is still under the ipo price - and they ended up with the iron ore, by mistake (they were looking for diamonds, and did a deal with fmg - where they gave away the iron rights to some of their ground, in exchange for diamond rights (it was something like that) - fmg find iron - and fms think that perhaps they better look for iron, on their remaining ground..
ahhhh - shareholder wealth destruction!!! - but a happy lot of common people, collecting relevant fees, from the companies.
the reality, is that fms , could keep funding exploration on the diamonds/ phosphate etc - in a far more economical manner. a new company means more director fees / over heads etc etc.
no wonder the annual reports of some of the companies, in the group, have photos of "rotund, well fed" men
FMS Price at posting:
17.6¢ Sentiment: Sell Disclosure: Not Held
