Please take the time to read the announcemenet properly. Quite clearly by reading your post you havnt done that yet.
Its unfair to come on here and post misleading comments.
Im ok with the fact that you dont want to own any shares. No problems.
The false comment you make is that your saying FMJ will pay $260 mill for a non Jorc asset. Please read the announcement properly and you will see how false this statement is!!!!!
Lastly you say that we will have to wait 8 years for a good return. Please explain why this is the case???? Unless you have information the general public doesnt, or you have a crystal ball ??????
Im not saying that alls smooth sailing at the moment. What I am saying though is FMJ have landed a deal that could be one of the deals of the century if everything falls into place. They know they have plenty of hard work still left to do. Why do posters here enjoy knocking an Australian company who is having a go ???? These guys would have to be working around the clock on this major deal. We should be wishing them all the best of luck that this deal gets over the line!!!
Of coarse they have done the DD with the right people in the background (Terry Grammer etc)having a major input in negotiations. This $260 million everyone is jumping up and down about will be like a p!ss in the ocean once JORC is confirmed in the very near future and I believe a major increase in resources on these assets.
DDzx hit the nail on its head. With JORC confirmed FMJ will be raising the funds north of $5.
FMJ seem to have nestled themselves with some very high profile wealthy HK investors. Read between the lines guys if your smart enough. This deal is the real thing.
Some guys here are really starting to take this all too personal.
Enjoy your day guys.
FMJ Price at posting:
$2.40 Sentiment: ST Buy Disclosure: Held