Re: Closes Down 7%
in response to
by
posted on
Apr 17, 2011 10:22AM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
I can't let this one go by. I'm tired of the rose coloured glasss and lack of objectivity. I guess some people have lower standards for investment returns.
"Because I am a buyer not a seller" - fine by me
"I am an investor not a trader" - Okay, so a 1 yr return has yielded -21%, 3yr return -74%, 5 yr return +21% (www.dailyfinance.com). So are you really satifiesfied with 21% over 5 years!! What if you bought two, three years ago?
"I dont like to pay up for the stock" - at some point i would like the option to eventually sell...i think we've had ample time to accumulate here and get in on pps!!
"I would like to see week hands sell now rather than later" - i'm not sure we understand the motivation of people selling now, but i suspect it has nothing to do with that fact they are "weak" and more that they have a glut of shares to unload.
"I think it is a good story and the SP will catch up with the fundementals" I agree, it is has been a good story for awhile, but with wrong managment and not well executed. And that's not me saying it, but the market. The story has been known for how long now?? Really, Fancamp is not flying under the radar. You had a large cap investment banker drop the name on BNN a few weeks ago as a take out target and the sp did nothing. Point is people know the story and we have to ask why is no one coming close to sniffing us out? We have been sitting ducks for how long?? OUr story should have caught up with the fundamentals a while ago - even RGX, Champion has blown past us in terms of market cap appreciation. It seems they have been able to get a decent valuation, why not us? Are you really going to leave it to "hope" Rago et. al?
"$14M cash Shares in CHM and RGX" - That's great, but we also went from 30m shares fd to over 90m in less than 3 years. The shareholder dilution (300%!) better have yielded some cash because we're at a precarious juncture in Fancamp's future. It looks to me like he's trying to scuttle the ship with these aggressive financings, i just have no other way than understanding his motives for trying to advance all ourprojects at this time. The prudent action would be ROF and the iron ore. Cease the other operations until we can build a market cap that can support his wasteful expenditures in other grassroots projects. We should be not be financing those activities until we're much higher. JMO of course but i don't like his strategic management at all.
"Probably the largest iron ore deposit in Quebec" - are we too late to prove it up? Being behind Consolidated, Alderon, that is an awful lot of iron ore for a market to absorb, when will our deposits ever feasibly come online? Are we going to have to wait another 15 or 20 years?? Will it be Champion that saves us?
Anyways, my point is that your posts are annoying and not balanced at all. I appreciate we have investors who do DD such as yourself and who are steadfast in their belief in the "story". But the story is not good enough for me. There are serious questions that you are not asking and that's my problem. We all want FNC to be a winner, but the market and lack of sp movement, ie. buying interest is telling a different story. And i wish you would apply your cheerleading resolve into investigating that side of the story too.
Thanks for reading and good luck everyone.
Eudaimonia