posted on
Nov 23, 2011 07:34PM
What choice is there? We must take these steps. I believe management is hoping a major prefers buying offtakes or becoming a major shareholder than buying us out. FNC has this stigma of having loyal shareholder who don't let go of the shares easily. It's good because it makes a takeover difficult without being attractive to shareholders. But it also makes obtaining a large interest in FNC difficult. Even Pat doesn't control very many shares any more, so that leaves only one large shareholder and much of the rest are like us, waiting for the big launch. Was it 97% who voted for management at AGM or at least raised no objection by not voting. Once CHM triples to 3.00 and Magpie gets moving, large buyers will be able to justifying the price you and I are willing to sell at. We've seen how Cliffs works, they might want FNC at .70c not at $1.50 to $5.00.
Until that happens, the next progression of News Releases will be satisfying.