What % offering of value shares wise has the company effictively sold to craig for the 100% aquisition of new haul?
So FEX picks up a fleet of depreciating assets in exchange for shares issued to craig from the company overtime.
Whats not factored in is the dividend over this period which makes the situation worse.
Another one to look at is the balooning debt once the trucks come to the end of the lease/loan agreement add the interest over the years.
Tell you whats missing with FEX is the cost control of the business that Rob was good at.
Since your a wellborn fan boy, how good was the deal he struck with SCN and selling more shares in the company for 100% of the ore rights, so far SCN has had the last laugh there, gained shares in FEX and collected the dividend and the next dividends in the future.
Wouldn't it have been better to make sure there was a viable resource there before comitting so much.
In the presentation they even speak of finding another resource like iron ridge is extremely rare.
I guess that the bonus in looking at things differently an alternate view so to speak.
Tell me how far did the share price go down recently?
Another one of your good calls.
Rooks
FEX Price at posting:
27.5¢ Sentiment: None Disclosure: Not Held
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