Ann: Quarterly Activities Report, page-82

Rookster
My post pointed out fundamental errors in your analysis of the numbers. Your post was misleading and incorrect.
Your follow up post makes no effort to acknowledge this deceit or to argue it.
Instead, you have posted a series of alternative and unconnected concepts and pivoted to a new attack entirely. Nice try??
You seem to be only interested in attacking Fenix and protecting Rob from invisible attacks on his legacy. Seriously, what is your problem?
I have no interest in prosecuting an argument on this topic and particularly where you change the point of attack at will. Costs are down 20% since Rob left but somehow Fenix has lost his cost control focus? Hello???
Let’s agree that Rob did a stellar job and was excellent. He is no longer in the business. The business seems to be doing ok if not better than ok. Rob is no doubt happy with this outcome and should take great credit for ongoing success.
In response to your other points:
- The acquisition of FN was immediately value accretive to Fenix shareholders. However you wish to attack it that is a reality that is increasingly clear by looking to the numbers. Why is that such a problem for you?
- The Scorpion deal does not seem to have yet borne any positive outcomes. Perhaps it was, as you imply, a dud deal. I was surprised to understand just how small FEX’s ground position was in the Mid-West. Seems that it was not previously a focus of the Board or Management to look for additional resources? I assume that is the risk of exploration? The strategy of expanding the footprint and looking for more ore seems like an obvious one worth pursing even if success is not guaranteed? Perhaps a good question for you to ask the company on a webinar?
- You suggest FEX should have made sure there was a viable iron ore deposit on the SCN ground prior to the deal. I agree that would be ideal. I am not sure it is a feasible Bd strategy to make sure there is a valuable mineral deposit on exploration ground before you acquire it. I think the numbers would be very different if that was the case. In any case it was an earn-in that was renegotiated.