Re: Res 3.
As RK mentioned, Todd’s take up of previous share issue enabled FMS to do more drilling and almost all of the BFS. Todd can take advantage of this, by a small drilling campaign to verify results. By employing the same third party to complete the BSF at reduced cost.
If a new issue of shares to sophisticated investors, would Todd be interested if no additional work is done to PIOP. This is not an on market TO so he can’t expect a huge increase in SP. He may want to retain his 19.9% status but it’s starting to cost him.
OCJ has been buying and may take up a new issue and he will get closer to 19.9%
What happens with two people at 19.9%?
Interesting times.
FMS Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
