No, lost _alot_ of coin, but really happy to be out.I know that...

No, lost _alot_ of coin, but really happy to be out.

I know that is the plan with JMS, but what is stopping Pallinghurst and Red Rock from taking Yilgarn from JMS once this proposal goes through? Nothing! and why wouldn't they strip it out? they're pretty much getting it for free. If shareholders vote yes, you're giving the company away. There has got to be something behind the scenes for the directors to advise shareholders to go ahead with this deal.
If you read the EGM material, there is no obligation for those companies to provide any funding at all. And where there is, it is subject to Pallinghursts 'investment criteria' which there is NO information disclosed. This is just dodgy as.
They will firm up the resource while milking shareholders a bit more, then take majority ownership and strip the asset and shareholders will get screwed. Yeah they will negotiate with surrounding lease holders as well, and have the ability strip out those assets too.
It is just really dodgy mate! and you cannot compare JMS to a company like FMG - that is a joke.