I searched company website and found the following,
Flinders Diamonds Limited was first listed on the Australian stock exchange 20 February 2002. Its primary focus was to explore and discover an ecomonic diamond deposit
Hamersley Project orignally a JV between FDL (now FMS) and Prenti Exploration Pty Ltd (May 2003). FDL bought 50% for $50,000 cash. FDL now has 100% equity with Prenti retaining a 5% net profit royalty.
Could be good news as pac23 suggested - clear the deck for big boy to move in, but still to early to tell.
jv comes out., page-6
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