Sept 23 (Reuters) - Flinders Mines Ltd FMS.AX :
* Rejected the proposal by New Zealand's todd corporation for todd to acquire flinders' pilbara iron ore project (piop) in Western Australia
* Flinders Mines confirms that its existing alliance agreement with todd corporation remains in effect until 31 December 2015
* Says intends to have further dialogue with todd corporation regarding the alliance agreement
* Will consider what further work will be required at piop to continue to maintain the tenements in good standing
* Flinders Mines will also pursue with other parties, opportunities to develop the piop
* Source text (http://bit.ly/1OvxkJS)