It’s fun blowing wind up each other, but what does that really...

It’s fun blowing wind up each other, but what does that really achieve. It’s bewildering to see posters only share information with a positive bias, that is factually incorrect, for price appreciation purposes. I only have to look back at the MHM’s threads to see a similar pattern.

Vysarn was effectively a shell company, that had very little revenue for two years, yet still paid out fees to directors. That seems like a good gig if you can get it.

A quick linkedin search will show you that FMG already have staff whom have previous experience in dewatering from other roles. FMG also have other engineering specialists galore. If RIO already undertake some of their own dewatering services, I don’t understand why FMG wouldn’t do the same at some stage, especially if some of that experience already exists within the organisation. But you do raise a good point, why would they take that risk given the profitability issues dewatering services companies have shown in the past.

I am a shareholder and am hoping they can scale the business, hence the reason I am not selling. However, I would be selling at lower prices than today if this only turns into a 10-12 rig dewatering services company. Personally if they don’t demonstrate increased rig utilisation in the next 2-3 months, I will be watching something like WPL to jump across to, the way prices are moving I wouldn’t want to be a slow jumper from a pear shaped Vysarn ship in 3 months’ time.