why i'll vote no!

Reason I will vote No for this deal:

1. No guarantee that capital raise will have a positive impact on the share price. Atleast 1 cent dividend to each share holder would have been appreciated.

2. No clear plan on how they plan to use the $ 237 million in say next 4-5 years time.

3. Management themselves are not buying substantial quantity of shares to bring confidence in the market. I think I would have more FML shares then they recently bought.

4. Management should have made announcement about the possibility of deal with Shandong six months back when they initiated talks. As always no proper communication from BOD.

5. The chairman's letter also mentions that they may use the fund to do further acquisitions which I presume would further dilute our position in FML.

6. Still no info on what's happening with Stone's holding in CRE.

7. How will they reduce the production cost and by how much for each of the four mines and in what time frame.

8. Is there a guarantee by BOD that the rate at which they have been burning the cash till date won't continue.

9. Six presentations done in last one year by Campbell from Broken Hill to New york, still no one is interested to put there money in FML. Does it mean Management is uanble to market the company properly???

10. No update on TI for more than six months. How long before they give any resource update on TI. What Dean Goodwin doing ???

11. No info on what they plan to do with Nickel exploration and mining.