We can all Win- 11/6 at 19.20 post, or we can all loose as well., page-20

I read it as being up to the point of detail planning, feasibility and development scheduling of the mine but FMS owns the mine tenement and plant & equipment, asset improvements, dwellings etc. that are inside the mine gate wont be borne by Todd other than perhaps transport access to the point of loading. The actual details are elusive but have been eluded to, I seriously don't like illusion when dealing with masters like Todd or ex-Macquarie.

As for exercising the Board position at FMS it does indicate a fair and reasonableness on the part of Todd Corporation. Post 30th will clarify that one fairly quickly I suspect.