Ann: Financial Report for the year ended 30 June 2016-FMS.AX, page-55

Re- AGM, This AGM will be playing right into Todd's hands, they will have control of the board and they have paid a very cheap price for that privilege, we must remember that a new 15% preferred placement of shares can be sold to Todd at a very,very cheap price if the shares continue to fall, naturally it would be in Todds best interest for prices to keep dropping, FMS would still be liquid but all shareholders would be diluted demonstrably, all legal of coarse, seems a long way to get around everything, but that is there choice. I would imagine by May 2017 Todd will have their 75%, then the *hits the fan, I certainly hope this phantom lawyer from FMSU can work something out for the 48% of smaller share holders in Flinders Mines.