I'm trying to think of anything that might have happened in the...

I'm trying to think of anything that might have happened in the last month that led FYI to put "other opportunities" on the table for discussion with Alcoa. If the agreement for the JV was basically sorted, surely FYI would just go ahead and sign up immediately without putting extra stuff forward. It makes me wonder if a TO is now on the cards ? In that case, it would be necessary for FYI to bring everything they are doing to the table, so they can negotiate the best TO deal for FYI. There would be no point in holding back anything of value if you were going to be acquired anyway. This is all just speculation, of course.

All IMHO, DYOR