Hi Guys,WOW! plenty of discussion has hit the boards today...

Hi Guys,

WOW! plenty of discussion has hit the boards today regarding Fortis's announcement today.

Nowhere Man's post today sums up the situation for me and thats why I will not be selling a single share this year!

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Nowhere Man's post ...............
Posted: 22/02/11 10:53

"I believe all the juiciest details may have been stripped out of that Announcement.

What we do learn is that we now have our foot firmly on two significant potash mines in Kazakhstan, and

"...The mines are located in western Kazakhstan, and are well positioned to serve the largest Asian potash markets - one mine sited just 14km from the national rail link to China..."

Almost certainly the assets the Satimola vehicle might have brought to the markets via a London listing.

My heart goes out to our guys. They know they have a ball-tearer asset within their grasp and obviously, they want to alert shareholders to the fact. On the other hand, try as they might, they can't say too much until the formal Due Diligence process is more complete.

So we have today's admittdly very 'dry' Announcement.

It's a pity there's no 'middle way' for a company to at least give some indication of the magnitude of what they might have, without running foul of ASX red tape.

(Puts one in mind of all the Tom Foolery of hounding poor Andrew Forrest, when it's fairly certain there wouldn't be many Fortscue shareholders thanking them for it!)"

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Also, Please try and get advise on the following from todays announcement(chapters 1 & 2)and then read between the lines..............................................

"Following discussions with the ASX, the Company confirms that the proposed transactions will amount to a change to the nature and scale of the Company�s activities as contemplated by the ASX Listing Rules. On that basis, both the ASX and the Company consider that it will be required to comply with ASX Listing Rules 11.1.2 and 11.1.3 in respect to the Propose Transactions (which includes compliance with Chapters 1 and 2 of the ASX Listing Rules, and any consideration for the Proposed Transaction can only occur once the Company has complied with Chapters 1 and 2)."