All quiet on the eve of D-Day, page-18

AO
I’m not at all interested in making a proposal to mgt or a Co interested in a T/O.
It’s traditional for valuing T/O from the “bottom up” ie take the SP and inflate it by 30%. It’s just a convention. FMS has a resource and the current SP doesn’t reflect it’s value this can be seen by comparing with other Co. in the Pilbara or SA.
So, why don’t be approach the valuation from the other end.
Mr Wolley mentioned that the port and rail project will cost 2-3bn$.
What would be the value to Todd to pay for FMS to make the project viable and “open up the Central Pillbara”? make the port and rail available to other miners as well.
I couldn’t help thinking during Wolleys presentation “has this guy thought about the possibility of a stranded 2-3bn$ asset?
In retrospect I think the ego stopped any thoughts going in any other direction.
Cheers to all, either