the point is, there are all sorts of implications for FMS shareholders if that timeline/process is correct.
you can see we get $10m + $10m + $10m = $30m, over the period from say Aug 2015 ---> end 2020.
so for a possible $30m staged over 5 1/2 years until Dec 2020, we will have lock-up FMS from any other potential takeover, and lockedup FMS from any benefits of an increase in the price of iron ore.
because it seems there is NO guarantee that Todd have to develop PIOP !
is that right? I think it is.
so they can drag it out until Dec 2020, and then decide to let the option lapse.
and FMS is back to square 1 again.
Sure we have received $30m over those 51/2 years to Dec 2020, but where will those funds go?
they will go in admin etc.
they will go purportedly into some unknown adventure into areas other than iron ore.
mothball the project, small cap raise, run FMS on skeleton staff and part-time board and management - and wait for better times.
If Todd want PIOP's ore, then Todd need to mount a full takeover bid !
FMS Price at posting:
1.5¢ Sentiment: None Disclosure: Held
