FEX

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27.0¢ fenix resources ltd

this company has gone from one of the best managements with a...

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wiz32

590 Posts.

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13/03/23

01:14

Post #: 66725251
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Originally posted by malvernmoe: ↑

Thanks.

I understand why they (actually, it’s pretty much only 1 member masquerading as 3-4 other accounts) would be aggrieved by my commentary on John Wellborn, as they’ve outed themselves previously as being a confidant of his.

But if he didn’t provide a reason for me to be dissatisfied with his performance then I’d have no reason to comment on it.

He’s been in this role long enough now to have at least done something for shareholders ROI to warrant his pay packet - but HE’S DONE NOTHING even remotely worthwhile so far.

It’s very easy to understand why people could/would think the trucking deal was “worthwhile”, given it should result in us paying less fees for haulage BUT AGAIN, that comes at a cost. And if the costs outweigh the potential savings then trying to claim that as an achievement is extremely false!

I actually can’t imagine there’s anyone holding FEX right now for any major reason apart from the dividends. It’s pretty much all about divies!

So, if the F/N trucking deal is going to result in SUBSTANTIAL dilution of the register, that obviously means we’re (all shareholders) then going to receive a lesser dividend payment.

And the question I’m then asking myself is; would we, over LOM time, receive a lesser dividend payment if we weren’t incurring the dilution from the trucking deal but then also passing up the savings it’s being projected to generate?
The messiah - John Wellborn, is trying to maintain absolutely NOT. However, to date, he’s failed miserably in demonstrating specifically why. Hence, the partial reasoning for my ongoing dissatisfaction of his mismanagement.

All IMO.

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this company has gone from one of the best managements with a strong balance to one of the most incompetent management and a balance sheet of smoke and mirrors with creative accounting that has fairly well placed itself in an esp only value. I mean where do you find a company paying such large returns for a share price that doesn't even move, I really hope he gets sacked (nothing but a snake) and we find a more honest person who's not working with creative accounting and paying his mates out imo

FEX Price at posting: 24.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
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

Buyers (Bids)

No.	Vol.	Price($)
1	11196	26.5¢

Sellers (Offers)

Price($)	Vol.	No.
27.0¢	433562	5

View Market Depth

No.	Vol.	Price($)
17	2021470	0.260
7	290921	0.255
27	577659	0.250
11	425149	0.245
13	330117	0.240

Price($)	Vol.	No.
0.270	433562	5
0.275	178355	4
0.280	275180	8
0.285	115526	5
0.290	317232	5

Last trade - 16.10pm 01/11/2024 (20 minute delay)

FEX (ASX) Chart

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