anyone voting YES, page-4

Based on the information I have at the moment, I will be VOTING YES.

OCJ is no mug and obviously thinks buying is a good move.

OCJ is lowering his average from 4.6c/share.

Remember if the option deal proceeds (IF!!!) then before December 31st 2016, $55m flows into FMS (2c/share). Then IF production ramps up to the intended 25MT and IF the iron ore price is say, at the lowest to make it work say, $50/T then a royalty of 60c/T flows to FMS i.e. 0.55c/share.
So OCJ is buying at about 1.5c and he will get back 2c by end of 2016 and 3 or 4 years later a royalty of 0.55/share or 37% return on the current price of the shares. Or you could look at it this way.
Having bought shares at 1.5c and got all your money back plus some, then the royalty is free money. If the iron ore price was $80/T or more the royalty would be $1.40/T and the return to shareholders would be 1.3c/share or 87% on 1.5c or infinity % on a nil net purchase price. IF!

Lots of "ifs" BUT more certain than a marooned one BT of iron ore with no way to the coast!

Remember we have been told:
Todd is determined to have a working hard minerals mine for the long haul.
Todd has a $6B balance sheet.
Todd will shortly pick up around $450m from the sale of Crown Castle Australia's telco towers infrastructure portfolio.
Todd have already spent tens of millions on the project buying 46% of Rutila's shares and bidding for the rest and buying 19.6% of FMS. They have spent a packet on feasibility studies with more being spent AND very importantly they will spend heaps drilling out the rest of the PIOP with the likelihood of a continuation of some of the recent high ore grade deposits i.e. 61% or more.

I have held FMS since 2007 but missed my opportunity with the MMK. The hopes of a windfall profit are gone and on balance this is a way out with a steady income stream for the future.

I think that the attitude of envy and dislike for our directors will not achieve anyting.