Right, FWR shareholders end up with 22% of the shares in the joint company, while bringing in an asset value somewhat greater than the assets owned by NOT, the shareholders of which end up with 78% of the shares. Quite a good deal if you are a NOT shareholder.

I dont think people are as yet aware of the value of the chromite on FWR ground. There is enough high grade open pittable ore there to be shipped at a rate of 2.8 million tons per year for a very long time. We can use twenty years supply in calculating a value. Do the math yourselves.