this announcement is yet another reason as to just WHY FMS shareholders should vote NO !
All these game-changing events are occurring around FMS - yet no body has bothered to secure the ore from FMS !
what good is an approved rail, an approved port, and approved conveyor system OR an executed Offtake Agreement, without any ore ?????
the rubbish we read that the Offtake Agreement will cater for ore from 3rd Parties is rubbish - because why would the Approval and Rail line and conveyor be directed to PIOP, IF they intended to get the bulk of I/O supply from other 3rd parties?
it is remiss of Todd/RTA group to leave the actual securing of product, until the last minute. Their problem.
What all this has done is to highlight what a crap deal the Option Agreement really is.
it simply is an opportunistic grab for our only real asset, at the cheapest possible price.
It again just highlights that our "stranded ore" is actually quite valuable. We must be compensated properly for relinquishing our asset. It's that simple.
what this proposal has done, is put PIOP in play, FMS in play, and the Board positions in play.
I most certainly will be voting NO.
cheers
FMS Price at posting:
1.6¢ Sentiment: None Disclosure: Held
