http://www.flindersmines.com/lib/pdf/asx/2011/fms_asx20111122_agm...

http://www.flindersmines.com/lib/pdf/asx/2011/fms_asx20111122_agm_presentation.pdf

The AGM presentation you might be referring to is attached go to page 15 from Nov 2011.  Although times have changed dramatically in the IO space globally, u can see why Todd continues to be so single minded about increasing his ownership of FMS.(Nov11 Market Cap was $309m. IO price was $135US,$1.8b shares on issue, Cap ex $1.3b). SP was around 15cents in Nov 2011 (Altas IO (AGO) was $3.20 at the time) Despite asking many times I never did get confirmation from the company as to how they came up with these figures. I wonder how many current long term holders invested in FMS on the basis of this graph at the 2011 agm.



It would be good to see an independent Broker prepare a report on FMS with some detailed valuations. All Brokers coverage pretty much ceased when Todd got involved. "The sole analyst covering Flinders, Macquarie's Hayden Bairstow, ceased coverage of the stock last week on the basis that "the company's fortunes now rest with Todd Corporation"

http://www.smh.com.au/business/mini...er-todd-option-agreement-20150703-gi4nx2.html

Macquarie's last coverage report.

http://www.asx.com.au/documents/products/20140730_FMS_4QFY14_update.pdf