What amazes me is TIO are prepared to spend so much money and time to date, borrow all this money for a project, take on so much risk and then play games with FMS when our resource can guarantee them supply and totally derisk their project.
Our PIOP has a proven resource to supply their project, pay off their debt and provide plenty of cashflow for the long term. If they rely on other small suppliers they will have no control over them unless they take them over as well. What happens if their other potential suppliers of iron ore fall over through mismanagement, a big drop in the iron ore price or for any other reason. There project could lose revenue very quickly if something goes wrong with another supplier and cause them all sorts of problems.
To me it is simple. TIO or their business partner should either simply offer a fair price in either a buyout or a partnership to production. Our share register is tight enough for either one of these options to occur and some bright sparks have said on here previously that the PIOP is they key to the Balla Balla Project. If it is not the key to the Balla Balla Project at the very least it can be the key for Todd to derisk their project.
Regards
Geoff
FMS Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
