email from kev on assays before options expire

From: Bob
Sent: Wednesday, 10 September 2008 2:09 PM
To: Kevin Wills
Subject: RE : Expected assay results for drilling

Quote:

Good Day Kevin,

I have recently invested in FMS, and am extremely happy with the unfolding of events along with today’s drilling report & the current activities associated with your team & company.

Would you be able to fill me in on the expected times that the assays would be delivered and reported on for the drilling activity to date. As I was thinking of purchasing some options, and I am trying to grasp the market sentiment on whether it will be happy with just visual results of mineralisation, or assay results before the expiry date on the 22nd of September.

The SP has taken a hammering today just before & ongoing after the announcement. The sentiment seems to be saying that people are not happy with just the geo’s visuals. They want assays.

So could you inform me as to how many assays you expect to receive back on a weekly basis from the lab? As there are only approximately 2 weeks left before option expiry, so I I can make an informed decision about this before then.

Thank you

Bob.

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Quote from K. Wills as follows:

Hi Bob,

Thanks for your interest.

The delivery of assays is , I’m afraid, beyond our control. We should get more in before options trading ceases, but probably only one batch.

Our geologists are able to recognise the high grade iron ore so if we list an intersection it is highly likely to be of ore grade.

I think the” hammered” share price is caused by the whole market and by some strategic trading by those who are happy to make small short-term margins rather than wait for a larger long-term appreciation.


Regards,

Kevin Wills

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There it is, 1 more batch "should probably" be released before the option expiry time. And, as stated, the Geo's are able to spot high grade ore without lab results, hence the reporting on them yesterday. (Lets give the Geo's the benefit of the doubt on IO over diamonds - lol)

"I" would expect that the lab boys will be instructed to utilise their time wisely over the next 2 weeks, and to only focus on reporting on the drill core samples that visually have the highest IO grade intersections with the largest seam thicknesses for the assays to be announced to the market before option expiry time.