Certainty

There are some things that are absolutely certain imho.

* this latest re-wording of the first proposal, will be rejected by minorities.
* FMS has put a value on PIOP. We have been told that the Chinese funding party will pay A$750m at FID for a 50% interest in PIOP MineCo.
So at the very least FMS' 40% interest at FID will be worth $600m.
A$600m with 3,485m shares on issue = 17c per share !!!
Thats at FID.

* BBIG has already stated that they have completed their BFS back in June 2018
* BBIG simply cannot declare FID on the project until their have secured supply of ore
* BBIG has NO OTHER supply of iron ore to draw upon to feed a 45mtpa project.
* BBIG has committed probably $150m - $200m so far.
* BBIG has also committed very real non-financial capital also - work and face with Govt, Chinese parties, communities, Todd shareholders etc
* BBIG are physically going flat out building the port etc, as we have seen all the tenders put out and accepted.
* time runs out for BBIB by Sept 2020. We have read that WA Govt will not extend the deadline
* BBIG already has all its pieces in place for FID. It already has enviro approvals, Govt approvals, funding, Offtakes, engineering, construction agreements, personnel etc etc ---> so they are ready to go.
* BBIG will make a fortune once this project commences production
* ALL IT NEEDS IS SUPPLY !!!

So IMHO, Todd/BBIG , at some point in the near future will simply HAVE to come back with an offer that OCJ and minorities would accept.