RHK 4.41% 71.0¢ red hawk mining limited

This is my big concern FMS cash position. My advice avoid having...

  1. 5,090 Posts.
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    This is my big concern FMS cash position. My advice avoid having TIo loan money at all costs.

    Would love some board changes and greater independence to happen but unlikely now imo, so we will continue to adsorb the cash burn.

    I just do not trust FMS/TIO any longer in representing all holders equally imo. Sad isn’t it we are even in this very position after finding very large reserves of ore. I bought stock from day 1 with some of you guys. Who would have never thought we would end up where we are now. Disgraceful situation isn’t it.

    Shame we are unable to forget production with TIO and do deals with existing big players or FO. Or even sell whole of FMS. We just do not have an even playing field, then alone transparency imo. TIO like it or not control FMS.

    TIO just offer a good TO price and move on.

    So much money has been wasted and who exactly is it benefiting? The BFS hasn’t benefited holders but it would have helped TIO imo.

    This is my opinion of how TIO attempted to get full control/ownership of FMS. But they had to firstly focus on securing a port and they did by paying well for RTA.

    Interesting process of events as I have observed so far.

    1. TIO Looking from NZ, iron ore doing well in Aust, huge demand we better get into the ore business - done
    2. Take big position and Do deal with port access hello RTA - deal done.
    3. Have talks with Chinese maybe a deal as now BBIG formed and we are biggest holder in 1.4billion tonnes of ore with FMS.
    Meanwhile spin production/ BFS again have FMS fund it via cap raises etc. Burn FMS cash weaker coys easier to TO.
    4. Increase board influences of FMS, that way have control - done
    5. Convince board to accept low ball offer and sell it to holders - done but failed.
    6. Keep acquiring shares, even try to convince OCJ. Bugger - can’t get OCJ. Keep contracted director which cost $10k a week this will burn cash an continue to weaken FMS.
    7. Bugger - Ownership stalled at 55% what to do. idea “delist”. Sell story of just how bad FMS is by being public ally listed, lol. Sell story no deals done with BBIG/ Chinese etc of wanting FMS low grade ore LMAO
    8. Bugger - iron ore SP rallying big time even low grade coys. Thanks Vale.
    9. Bugger - media, politicians and little holders making way too much noise, now ASIC having a closer look and TO panel involved, bugger! But ASX still loves us. Oh bugger ASIC stepped on ASX now lost any chance. Big bugger.
    10. Bugger - failed to delist. Now pull out. How much did this exercise wipe of FMS balance sheet.? How much did TIO actually pay? Such BS wasn’t it.
    11. New approach, they have no cash now so we will lend them heaps so our production process can continue then imo they make loan call later to get coy by putting FMS into liquidation/ administration and in my opinion this is a big risk. It certainly can happen guys. Hope I am wrong and TIo finally work with holders but just can’t see that ever happening.

    Great that ASIC finally stepped up after banking commission and little FMS making the news, sadly typical head in sand ASX’s actions though. Just imagine how many thousands of investors have been ruined by our corporate watchdogs decisions over many years. Sad isn’t it.

    Now many other coys will be so appreciative of the FMS holders stand. Now rule changes a foot. I know I am impressed. Shame many other coys like EGO didnt have united holders like FMS, they wouldn’t have been liquidated by lack of action of ASIC/ASX.

    Make no mistake If you all didn’t stand united you would have been delisted a month ago, FACT!! watchdogs would have done nothing but support the big guys. Sadly our story isn’t over yet guys more twists and turns to come. GLTA.
 
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