There is one thing that I hope keeps the current board honest and that is acting negligently in returning value to ALL FMS shareholders not just one 53% holder with interests in common with the “other” party BBIG………..
Accidental negligence is a loop hole by claiming “ignorant of the fact” and being classed as incompetent and just getting the sack. In my view the board does not have this loop hole available.
Intentional negligence or intent to deceive is very damning and possibly jail material. A possible example is using your power as a director/board with intent to manipulate in order to do the wrong thing (hello!!!!) by FMS as a public company and the board is accountable to deliver/maximise “actual” value to all shareholders not just TIO/TODD. The current board is/has moved FMS to a position of weakness as a business to negotiate with BBIG. They could have at least explored its own transport/exporting options. IMO they have “not maximised value” at all with obvious value in copying operations like AGO and others successful small miners.
Uninformed statements on the ASX is no escape when they should have reasonable knowledge of their competition and our options. The Pilbara is full of price competitive examples. I'm not saying FMS board have done anything illegal its just my perception at the moment of their disinterest to take FMS forward as an operating mine other than as "you wish Mr TODD".
Only my opinion of course so DYOR.
FMS Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
