fairness to shareholders, page-5

Hello,
I believe that the close on the day of the iron ore announcement was 7 cents but that was back in 2007 so I could be wrong.

I to disagree with free shares being given out to directors, but I dont think there is much we can do about it.

If you read item 15 in the announcement you will see that if all goes well for FEX they will end up with 75% of FEX cand FMS holding the other 25%.

One must also take into account that FMS must spend at least $2m per year on these tenements, so if we do vote yes then this requirements will transfer to FEX