FMS 0.00% 4.6¢ flinders mines limited

FMS - "The Foundation Customer", page-11

  1. 310 Posts.
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    My opinions only not advice in any way!

    Simple problem - Todd cannot afford to buy us small shareholders out at anywhere near an acceptable offer (they simply are not rich enough!)

    Rework the Chinese deal and get them to buy us out at say $1.00 per share and become a 44% shareholder alongside Todd and then go your hardest.

    At $1.00 per share that approximately equals Todd's total wealth which puts them in the very minor league when compared to the other players in the iron ore business in WA! A simple example Twiggy Forrest makes that much in 2 years dividend cheque's, just shows how junior others are in this game and in some ways explains the actions to date in trying all angles to get hold of minority shares!

    Any sane person in such a big game with so little capital you would expect them to welcome minority shareholders with open arms! Again refer Twiggy Forrest, just look at the win win for everyone there including Twiggy of course.

    My best guess is they have massively oversold themselves to the Chinese and now find themselves in between a very very big rock and a very very hard place (ASIC and DEFIANT SMALL SHAREHOLDERS)

    Further add to this already serious problem for Todd, the fact that ALL EYEBALLS ARE CLEARLY FOCUSED ON FMS AND THE BOARD AND THEIR EVERY MOVE coupled with the relentless tick tock of the WA GOVERNMENT CLOCK!

    We friends of Flinders United have all the time in the world unlike the majority shareholder who has to get cracking toward production or miss the boat again on record iron ore prices.

    Federal Government Authorities (ASIC etc) are now scrutinizing every move made by the Board of FMS which leaves them with very little wiggle room. Any wrong move is going to leave the Board members with a serious case to answer and could easily involve drastic outcomes for them. Their reputations are already in the gutter not only with their recent actions involving FMS but other companies they have involvement in as well. Some directors also hold dubious records in running companies into the ground in very short time frames!

    Unless Todd and the Board get serious with their treatment of minority shareholders then this company is going nowhere in a hurry! Make no mistake we small shareholders have a lot to lose here but absolutely nothing compared to the major shareholder! Another interesting question to know the answer to is can Todd survive without any return from their FMS investment, we small shareholders certainly can!

    Over to you TODD and BOARD!
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