Joint Venture Expectations, page-81

Evening all

At the moment we all are focused on an anticipated JV announcement, and that LKAB and Mitsui are spoken about, as if they are the only game in town.
I'd like to suggest that MT might unveil a scenario emanating from left field, which would take the market by surprise. I'm being wildly speculative here of course, but in my opinion a partner that would suit us, would be a company like Fortescue Future Industries. To say that Twiggy has experience in taking a Greenfield project through to production is an understatement. And funding a one billion Dollar project would be a snack for them. And wouldn't Talga's green image and fundamentals be a perfect fit for FFI ?
What me makes me think that this is not as far fetched as it sounds, is that all the top dogs in the West Australia mining industry all know each other, for example it wouldn't surprise me that MT has personal holdings in some of Mark Creasy's vehicles.
What I don't like about the Twigsta is that apart from his huge ego, he is treating FMG a means of pursuing his personal agenda, and that as soon as I read about the creation of FFI, I like a lot of people, bailed out. He and Gerry Harvey use the same playbook, where despite having operational control of their respective businesses via a 30 odd per percent shareholding, they act as if they have clear majority control. This is where the likes of Bondy, Holmes a Court and the Goanaa, were able to legally claim that they had the authority to do as they pleased, and they did. I mean, who can forget Gerry tipping Harvey Norman in to that ill fated dairy farm scheme, that cost shareholders several hundred million dollars. Nice work Gerry.
There is a lot of discussion which suggests that to get a deal done, that we should be prepared to give up 10 - 20 per cent in equity. Would we rather see someone like FFI on the register, or someone like Mitsui ? is it a case of the devil we know, or the one we don't ?
Anyway, let's all continue to enjoy the ride, because I like many of us truly feel that it's all a matter of when, not if.

PDP