line of credit and stone?, page-3

Not sure if mgmt have mentioned an LC previously, but given FML have no debt, and mgmt expect positive cash flow from early 2012 onwards, diluting shareholders with another CR is the least attractive option I would think.

As for Stone Mining, of course it makes sense from FML's perspective that they accept the takeover offer, and come under the FML banner. CRE can then be folded 100% into FML.

I can only speculate that having failed to stop the FML takeover of CRE, Stone Mining are hoping/negotiating to get a better deal ouyt of FML for their CRE holding. Why FML mgmt would agree to this I don't know, and in any event FML can't until at least 6 months have expired post the conclusion of the CRE takeover; so Apr-2012.

In any event Stone Mining are powerless to affect the CRE operations. They have no automatice right to board or management positions. Also, as FML are pushing ahead with plans to delist CRE on the ASX and TSE, Stone Mining will truely be a locked in minority shareholder.