Its a binding heads of agreement with the company that has the right to purchase the asset and of course it is subject to conditions. And yet they have already placed a price on it (up to $160million today) without being in receipt of key data? But its binding subject to those conditions being met. And we dont know the full criteria for those conditions apart from a scant reference to legal, technical and exploration data. You could have a deal struck based on the criteria of Fortis but still not have an asset because the purchase of the asset is still subject to negotiation.
Who negotiates the purchase of Wiyot SA? Fortis or Jian? What is the price?
And the reference to Satimola, maybe, maybe not. There are bound to be other smaller privately run operations for potash which dont appear on a google search.
Whatever happens, Jian - whoever they may be - will have over 40% control in Fortis. If they are connecyed in any way to Madam Cheung then they could have over 50%.
FMJ Price at posting:
$2.53 Sentiment: None Disclosure: Not Held
