3b @ 2.66c, page-2

sharedawealth,

"those funding the 3b's (sic) are seeing an ever increasing risk in FAS"

Surely you mean ever DECREASING risk? The last six months has seen a Native Title Agreement, Mining Leases granted and a Finance Agreement for $300 million announced! The market has savaged most commodity stocks during that period and SPs reflect that. Hopefully 2012 will be a brighter place across the board. Until the final conditions of the finance agreement are satisfied, then 3Bs are a harsh reality of continued existence for many companies like FAS. The sooner we get the Off-Take agreement announced and see the cash coming in, the better. In the meantime, work continues on producing the infrastucture for the SHIP mining operation and further ongoing exploration, all of which costs money.

By the way ARCHVIEW,

Your 3-point guide for a successful business model at FAS may have got 11 thumbs up (so far) but is naive and simplistic. Firstly, point 1 and 3 are effectively the same bagging of management that is standard fare on this site. Comparing slaries just does not make sense. There is no comparison! Tom's salary from Rio of $2.3 million is just a 25% cash componment of his overall pay! Are you seriously suggesting that Kev is getting anywhere close to that. You should re-read the annual report and see what REAL CASH (ie not conditional options and other incentives he gets) and then evaluate if that is a fair amount for running FAS. Secondly, point 2 shows what a poor manager of accounts you would make. GWR shares are at very low SP at the moment and there is little demand for them (last tme I looked there were about 400k in total for sale on the ASX), and so flooding the market with a massive sell would reduce the SP even further. Hopefully, in the future, GWR will pesent better value and when FAS has retired its outstanding debt (and has the GWR shares held as collateral returned) then I suspect the GWR holding will be sold off. Until then it does not make sense to sell them.

As for renaming the SHIP project "Titanic", I would love to hear from anyone why they think that it is a non-starter. All the research I have done, and the information I have received indicates that this project is a company-making venture. I don't want to hear (again) about 3Bs and salaries. I want definitive arguments why the SHIP will not work. Until then, the poison-spitting non-holders can continue to give each other thumbs up for all their baseless vitriol. I am only interseted in objective analysis, not the pathetic, grudge-bearing rubbish that infects this forum. So, if you have any REAL evidence of impending doom, bring it on. Do something to earn your thumbs up, apart from consistently posting unsupported negativity. I eagerly await an informative response (but I don't expect I'll get one!).

Good luck all FAS holders, I think 2012/13 will be very rewarding. All my own opinion. DYOR.