FEX

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27.0¢ fenix resources ltd

Ann: Fenix Board Appointment, page-168

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wassa

3,614 Posts.

1565

04/01/22

22:49

Post #: 58642679
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Originally posted by rookstar: ↑

100% agree with this post.

The agm wreaks of an ambush by people (sh) in the know or people calling the shots behind the scenes.
Imagine getting a call if you were the M/D, the day before the agm from a group sh's, the day before agm and being told whats happening at the meeting the following day.
2 directors resign that had both bought shares in the company, a new chairman which purchased shares in the company 1.5 mill worth, announced before the meeting held, only to take office after the agm was concluded, so no votes cast.
Then being issued with a share loan plan to be voted on in an egm to bolster his position.
Signs point to me that robs version is a formality rather than an endorsement. And now that welborn has the chair position, lets just hope that no shareholders gift the votes to the chair to cast independantly!.

Rob for my mind is scrambling for votes to save himself after the last agm results.
The proof is there in the agm.

We will soon find out who is actually running the company depending on the next play and where it goes to next.

For my mind FEX was about related materials to the off take partner like maganese and coal (sinosteel) and strengthening that business relationship. High quality product = niche producer!
There was a hint that we could utilize the neighbouring sinosteel tenement too. (Stranded assets)

Or we can recieve what wildcard welborn has on offer that we dont know about his plans, to then vote to give him not only a generous share price entry of $0.23, $2.3mill worth loan interest free shares which he owns straight up that comes with 100% voting rights straight off the bat, before we know his plan.
Total here if approved is 11.5 mill shares for john personally and he can use these vote next meeting.

The alternative assumption is they both get along (not likely) and they are both dressing FEX up to sell out when then share price goes on a massive surge.

Time will tell and vote accordingly.

Any one else feel free to add to the above.

Rooks

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Rooks,

It maybe cynical of me, but JW is just the ”vehicle” for another entities purpose, he is not the driver .... his pay off is the free loan shares to follow orders at other shareholders expense. Someone may have an intimate knowledge of who his associates have been in the past but as you say it will become clear soon enough. It’s going to be interesting but sadly once again the small holders will probably be short changed.
Good luck to all.

Wassa.

FEX Price at posting: 28.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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Last 27.0¢		Change 0.000(0.00%)		Mkt cap ! $194.5M

Open	High	Low	Value	Volume
26.5¢	27.0¢	26.0¢	$530.4K	1.999M

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No.	Vol.	Price($)
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