Ann: New Metallurgical Coal Mine , page-7

There are other coal stocks in RSA that have been (and are!) doing well. FSE's lackluster performance to date can only be the result of a general lack of faith from the market in this particular stock rather than any general fear regarding the future of SA mining.

FSE is seen as 'the second man pushing the wheel barrow' with the main player being Sekoko Resources. Given the size of holding of certain key stakeholders there can be no guarantee that coal profits will make their way through the future accounts of FSE. The market recognizes this in the current SP.

FSE as an entity now needs to prove it's worth to Sekoko by coming up with a cornerstone investor. This is going to be a challenge for the current chairperson when one considers the high turnover of key staff at FSE and the profligate dilution of the share register.

Good luck to all holders. This is a highly speculative stock and deserves treating as such when allocating your cash in my current opinion.