Ann: Acquisition of Mid-West Iron Ore and Port Assets, page-12

Thanks for another impartial perspective Mal.

It will be useful to investigate your suspicions on the motivation for this acquisition being sneaky behavior by management relating to low grade value destructive blending milestones. Sounds like fraud. I had assumed this deal was about growth.

And talking about growth, I note you have been clamoring for a growth transaction and (endlessly) bemoaning the lack of any progress on the need for expansion of resources. Your comments on previous posts:
"I’d trade the entire dividend for increase of LOM by even 5 years."
"rugby player buddy has yet to even remotely demonstrate expansion is achievable"
"There is no evidence that Fenix is “preparing for” or “at least looking for” a growth transaction - provide just one specific fact that such a thing is occurring. Just one!"
"He’s been in the job for how long now, and he hasn’t even given shareholders an indication that he’s even bothered to start looking."
etc etc

How surprising then that, when a growth transaction is announced, you are immediately negative.

The share price is UP. That is a good sign.

Not much detail on how or when this results in production growth.

J9