Ann: FMG Farm-In to Myall Creek Copper-Gold Project, page-21

The announcement did give enough buoyancy in the SP to allow a lot of people to sell out though. The volume speaks to that. Sensible long-term holders bailing while they can offload high volumes without crashing the SP, while new folks come in to have a punt on the drilling by Fortescue, on an area that for quite a number of reasons is high on the prospective list. A fair swap opportunity. I've certainly seen better deals, especially with respect to ownership ratios after the JV lapses. I guess SER management figures, that like the Cultana lease, they are happy to just walk away from if after a moderate exploration campaign, it comes up as another duster. But otherwise it would have been good to see conditions in there so it comes back to 100% SER ownership if Fortescue walk away after the JV expires. They did that with the KSO JV they had in the same area a few years ago.