My view is that many punters, including myself, feel that the continual over use of the word "commitment" attempts to hide the fact that there is no real, legally enforced or contractual commitment, and the notion of de-risking is not really true Even the other day Roly said that Alcoa had committed to spending over $200 million, before they had even signed off Stage 1. So I don't take any confidence in any wording of commitment.
What we are left with unfortunately is a minor company like FYI, supposedly unable to say anything without Alcoa's approval, unable to progress anything without Alcoa's approval, and if successful we get 35%. I tend to believe the project will be successful, but it just seems to me that the vehicle to a success (FYI) is almost redundant.
Unfortunately I am now down almost 50% so cant really afford sell my holdings. life would be great if Alcoa just came and took over FYI and I could re-coup my investment.
FYI Price at posting:
17.5¢ Sentiment: None Disclosure: Held
