OCJ, page-4

imho, this confirms several things:
1. OCJ average price for this parcel is 1.34c p/s.
2. they are intent on averaging down
3. they have confidence that there is more value to come in FMS ---- despite the iron ore price dropping continually !!!
4. their investment in FMS is now material - even to them I assume.
5. importantly, whilst Todd and FMS had to deal with OCJ when they had around 11% at the time of the Option vote, it is a lay-down- misere (spelling?) that FMS goes nowhere without the consent of OCJ
6. we small s/h may or may not have the same objectives as OCJ - who knows?
7. it is probably better that these parcels are being soaked up by OCJ, rather that being spread to other disparate parties.
8. I think OCJ can buy up to 19.99% ( I think they are Aust coy, so they will not be limited to 14.9% without FIRB approval)
9. they will almost certainly keep buying
10. importantly, this OCJ voting block is going to completely nullify the voting block of Todd. If the voting intent of Todd and OCJ are at odds, then that is going to place voting outcome in the hands of we smaller shareholders !!!!!!