pe981 there is an email recording of the webinar doing the...

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Supercat

388 Posts.

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22/01/23

18:02

Post #: 65819470
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Originally posted by pe981: ↑

Wow, I was out of communication for the past week and have only read this news today.
Obviously I also did not listen to the webinar and I couldn't find any link to hear a recording (not on website)
Anyone know where you can hear a recording?
Obviously as has been said getting rid of the nonsense royalties had to happen and I am sure they could justify the price of $3.3m for what we are buying, so hard to argue the price tag.
I have never been a great fan of owning the infrastructure project simply because of the huge capital risk involved and the prospect of significant overruns which often lead to failure. To mitigate that it will be absolutely necessary to get an ethical and deep pocketed partner to assist funding and provide some necessary balance sheet backing.
Was the capital requirement discussed in the webinar?
I am also intrigued in the role of Nicholas Curtis in this. It would not surprise me that Todd decided they wanted rid of this project and best to amalgamate with IO project, but how to satisfy Curtis's stake was problematic. (From memory did he own 5% of BBIG?) The royalty would have satisfied him no doubt and now perhaps the $3m is for him to move on or will he now come on the FMS board noting the comment:-
"The Proposed Transaction is supported by a planned increase to the executive capacity of the Company"
How many others will now be on the payroll?
The conditions for stage 1 are pretty simple with FIRB approvals appearing straight forward given the level of NZ ownership in both companies. The main complexities seem to be around the restructuring of the Forge balance sheet and relief in handling these assets.
Stage 2 would appear to be uncertain and hard to see how they can get further extensions to the state rail agreement to allow them to transfer to FMS without further clarification on the ability to provide the necessary capital, but perhaps this is of little concern at this stage?
There is also presumably the small matter of FMS funding the completion of a BFS which has been our sticking point for years!!!
We know BBIG had done very little work on it and it has been touted as the priority to underpin any infrastructure proposal / funding.
No doubt we will hear more soon but there will obviously be a need for funding in the very near future to even get to a stage to consider development.
A time line for various aspects of this agreement and a way forward including funding required would be most interesting.
Perhaps this was all discussed in the webinar, if so would be grateful for any info. Also if any interesting questions were asked and answers provided?
Surely they have had enough time to consider how they now proceed from here but very little is stated even the presentation Ann, perhaps they said more in the webinar?
Interesting times ahead and how minority retail shareholders will be affected..........

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pe981 there is an email recording of the webinar doing the rounds which you would get hold of if you are on the list.

Failing that you can access it via the link in the announcement and simply register as needed to listen live to the webinar. once you have registered it will instead take you directly to a recording of the webinar.

Hopefully you can get to listen to the webinar one way or another.

FMS Price at posting: 50.0¢ Sentiment: Hold Disclosure: Held
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