shareholders should demand firb 51% cap

Gents,

after much discussion with those,i have great respect for,there is one angle that may work for shareholders.It's very left field however and will not break any Multi-lateral trade agreements,if it is a commercially requested condition as a condition of shareholders giving up control,rather than a politically motivated one.

If Shangdong only want 51%,with my only true concern is they want the lot,so lets make our Shareholders approval CONDITIONAL on the FIRB restricting foreign ownership of FML and all existing and future tenements and acquisitions to no more than 51% beneficial foreign ownership and the board of 7,Shandong appointing 3 directors,with 4 Directors elected by the remaining shareholders."This being soley inserted to protect the rights of the vendors remaining interest and as such not setting a ruling precedent".
See - I have even written the FIRB's legal disclaimer for them.Easy aye.
That puts the pressure on Shandong to resolve STONE minority interest as well,or accept a lesser holding there.It also stops them,e.g. from getting a Canadian/English subsidiary from picking up stray interests in the future.

If Shandong are true to their word,it a case of so what,the deals still on and shareholders can rest reassured they are in it for the gold and the money just like us.
Lets all party like true friends and cash the divvies.
No different than if they did a deal in Indonesia,except they would only get 49% minority stake and put up all the money.

That will also guarantee a market for FML shares into the future and prove it as a safe(from swallowing on the cheap) investment for Australian domiciled investment funds and shareholders.A company with an incentive to distribute/repatriate profits to shareholders regularly.

If not-well all our fears are well founded then aren't they.

As it is now,they will get full approval without a look in,OR WILL THEY?
If they plan to grow FML considerably,then this condition may work to their enduring advantage,having that restriction in place.One future target,would currently be excluded,it owns considerable freehold non royalty land.However,a company that has a foreign GOVT shareholding cap,may possibly get a look in,if its shown to be a good mining citizen and respected Australian company.
Currently it'd be laughed out of the room.
Such are a few simple subtleties,that are business reality.Just as FML would currently receive permission to mine in some environmentally marginal areas and OTHERS WOULD NOT because of it's past history.

What we also need from FML management is their much vaunted 10yr plan.

What grade Dreadnoughts reconciling out to,for a start?
I'll start the lottery and bet its around 5g+/ton.
No mention and 20k of drilling says i might just be right.

Some plan for the spending of some of the $227.5M i.e. conditional contracts signed thank you very much.
Give me a mill or two,i don't care how you structure the mechanics of it.

What's happening at Laverton - re settlement with Stone interests and other minorities?

Yip some is commercially sensitive,but if Graham Hart can do it,DT can,i have no doubt.Both having been in the food game,in the same business and Company.

as always DYOR+DYODD

with this FIRB RESTRICTION and a few details on where the $227,500,000 is going,that I am happy with,they may even get my vote.I would normally vote with my feet by buying,or selling,by the way.But do this and I will fill the form in as well.

fitnfam