why would macquarie and rbs morgan bulk up on FMJthis was before...

why would macquarie and rbs morgan bulk up on FMJ

this was before this potash deal????

how many brokers are eyeballing this now.....???????



EXTRACT from AGE as published in Fortis website

Fortis IPO near to closure as Macquarie, RBS weigh in

Mathew Murphy
November 22, 2010

FORTIS Mining, a Melbourne-based explorer focused on gold and base metal prospects in Western Australia, is expected to close its initial public offering early with financial heavyweights Macquarie Bank and RBS Morgans tipped to snap up the bulk of the issue.


Fortis opened its offer two weeks ago to raise $4 million at 20? a share. Within four days, two-thirds of the shares were snapped up with directors believing the offer will close before its December 1 expiry date. Macquarie and RBS Morgans are expected to each receive $1.5 million worth of shares for clients.


Fortis executive chairman Jitto Arulampalam said brokers in Sydney and Melbourne were enthusiastic about gaining exposure to a West Australian resources play.

''Being based in Melbourne has certainly helped things progress,'' Mr Arulampalam said. Often, if there was a good prospect out of Western Australia, the east coast brokers rarely got a look in, he said. ''So I think it explains some of the interest around this one.''


Four of the company's five tenements lie along the strike that extends to major deposits such as Newmont's producing Jundee gold mine and Barrick Gold's Centenary gold mine.


The main play of Fortis is its own Jundee gold and base metals prospect, which is what the funds will be used for. A geologist's report has highlighted 11 targets for drilling.


It is believed that the company is also looking at opportunities in North America and Asia. Miner :
All sellers are inevitably, and by the meaning of the word, buyers so DYOR . Reply With Quote Share with Facebook .
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6th-February-2011 12:57 PM #2 jpot10900
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Join Date:Jun 2010
Posts:1 Re: FMJ - Fortis Mining
Sydney, Feb 2, 2011 (ABN Newswire) - Fortis Mining Limited (ASX:FMJ) has entered into a strategic partnership alliance with Hong Kong investment company Grand Concord Investments Limited including a share placement of 6,000,000 shares at a premium price of A$0.40 per share. Through the alliance, the Company has been introduced to some substantial mining opportunities inclduing a world-class potash asset. The funds that raised through the placement will contribute towards the exploration and development of the Company's current assets and to further acquisition and other investment opportunities out of China.

http://abnnewswire.net/press/en/6513...rtnership.html

Certainly some solid moves in the past 5 days, up almost 140% with a 44% rise on Feb 4 alone. Anyone else keeping an eye on this? Reply With Quote Share with Facebook .
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Best matches for fortis mining oversubscribed
FMJ - Fortis Mining. This one is likely to be li