I understand that there were 4 attendees at the Adelaide session and that FMS didn’t waver from the company sales line . It appears they are hanging on to the grim hope that somehow this transaction may get accepted . As if! . I’m told they appeared to be in total denial . Well, let the vote fail and then I hope the CEO will do the right thing and fall on his sword. Hopefully the Chairman who has presided over the two attempts to alter the constitution, the attempted delisting, the exertion payments and now this crap deal will follow him.
There is a simple message for FMS and BBIG. No substantial upfront payment = NO DEAL. An unlisted (trust us ) PIOPmineco = NO DEAL. A complex deal = NO DEAL and a royalty of less than 8-10% = NO DEAL. Take it or leave it IMO! The current offer may not bring any returns to shareholders for at least 10 years IMO. NO DEAL!
Let’s go into care and maintenance IMO. If BBIG lose the WA Rail License then so be it. That may mean a rail corridor could become available that could be used in part by someone else and BBIG have will no project and no long term returns. It is my hope that shareholders vote overwhelmingly against this transaction. We’ve waited for years and several more won’t matter IMO.
GLTA!
Now I do make mistakes and errors so make sure you check out the facts and risks for yourselves. Any comments, corrections or other points of view are welcome. The above is just my layman opinion.
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