Here is a list of things about FAS, please do your own research and feel free to add/delete to the list.
Continually changing what the company is doing for the last five years from Gold to Oil to Uranium to Iron ore
The CEO is a certified quarry manager rather than someone who has an actual degree from a university.
very low cash reserves left and in debt on terms that are worthy of examniation
Most cash flow at the moment comes from ever decreasing Monthly 3b announcements – From what I know most emerging producers undertake large capital raisings rather than monthly ones
Iron ore royalty agreement with interesting terms that are worthy of examination
Failed takeover attempt of a company several times larger than it (at least FAS acquired some GWR shares from this that cost them nothing)
Subsequent securing of GWR shares they got from the failed takeover attempt with OPUS Prime (which were subsequently lost and acquired by Portman’s) then securing the remaining GWR shares against other lenders.
Once a dust merchant always a dust merchant.
FAS Price at posting:
3.4¢ Sentiment: None Disclosure: Not Held