Agree Jake, very rare to see an agreement cancelled at the first sniff of expiry of conditions precedent, but I am glad as I have always said that the Infrastructure project was far too capital intensive and needs someone with deep pockets (and Todd's obviously weren't deep enough). Remember McAdam made the big deal that he had written a lot of margin into the capital required in the deal but it still was a fact that we could be subject to a call to cover major over runs, which were bound to happen!! I think the FMS directors have acted on the basis it is a bridge too far for us and better off without being tied up to any of those agreements, makes sense to me. Will be interesting if Todd try to keep alive (Noting previous comments by our Directors that the BBIG project remained important long term for high volume mining....) but I think they have had their fingers burned. The other BBIG shareholder (NC) can't be happy with how this is all turning out, perhaps he will take it all over
FMS Price at posting:
48.0¢ Sentiment: None Disclosure: Held
