According to press commentary attributed to the Director of FMJ,...

According to press commentary attributed to the Director of FMJ, the projects were two "mines" with China being "the main customer for the existing deposit's two mines, which were capable of being expanded if further exploration were successful."

So are these mines operational or not? Or are they just "assets"? If they are operating, what sort of production have they seen? If they are not operating, why say they are?

Seems these two sites have been shopped around for some years, including to two of the world's biggest fertilizer companies. Most recently, these same sites were the subject of a deal with Belarus. Cant see why thats no longer the case.

No information on whether current owners have enagaged in any exploration although they did declare 3 years ago that was their intention. Only information available is results of drilling from 50-60 years ago.

Funding of the acquisition is also unclear. 100m shares issued - but at what price? Shareholders are asked to approve the 100m prior to the receipt of the opinion by Ercosplan.

Will the 100m shares cover the $260m purchase price? What if the SP drops below $2 in the meantime? If they have to use Gem facility to cover any shortfall, where does the money come for ongoing exploration and working capital? They speak of debt financing as a possible option - for a non JORC resource? Id love to see those terms.

But then where does the money come from for a BFS or longer term financing issues?

This has a long way to play out. And still so many questions.

Good luck.