Yes, unfortunately we are all too accustomed to FLC's less than enthused SP performance. I have finally decided to reduce our holdings by close to a third, simply because I felt it was worth the near term risk of transferring capital into another stock which is going gangbusters and a clearly plotted path suggests more of the same for awhile.
It's not that I don't love and appreciate what FLC does, and the difference it will make across the globe, but BOY it is trying being the patient angels leading the way, when the market couldn't give a stuff. The market needs results and lots of them - and it needs to be able to read them ON THE BOTTOM LINE.
So at long last, and and with an identified alternative it has come down to the issue of 'opportunity cost'. It is awful to say, however without a major project win or three, our quarterlys are gonna be like 'yawn' every time; the consequence being a slide back into the teens. Having been here since the Emefcy days, I think I've earnt the right to 'walk', but I remain a shareholder, just not as committed to it being as large a player in the portfolio.
It contines to be frustrating that FLC has seemingly made little attempt to establish a footprint in it's country of listing! We have companies, councils and sectors crying out for water and sewerage upgrades etc in one of the driest places on the planet. I guess it is also one of the most sparcely populated..... were we otherwise it could be a different story.
Will keep dropping by, so keep up the fine dialogue, and the excellent and generous sharing of research. Atb, L
FLC Price at posting:
21.0¢ Sentiment: None Disclosure: Held
