Can’t believe this mob is undertaking another CR - at the same time they are conducting on-market buy-backs! Doesn’t make sense to be trying to raise new funds on one side, then spending them on the other to buy back their own shares, of which they are issuing more in the SPP! Utterly daft.
I dumped my shares a couple years ago at a substantial loss, but had I not done so I would be even more underwater, not to mention the opportunity cost of keeping funds tied up in a loss making investment instead of putting them to better use in income or growth generating investments.
My realisation that FPC was an absolute dog of a stock with Mickey-Mouse management, and the decision to finally dump was not only a relief and a big weight off my shoulders - it has also paid off handsomely. I put the funds where I thought I could recoup the loss, mostly in 3-4 uranium companies, and they are now all up between 300% - 500%. So i have more than recouped my losses on the FPC Dog, and have tripled the amount initially invested in FPC.
I can’t understand how people have stuck with this dog over so many years watching it consistently go down and/or be valued at a substantial discount to its NAV. Any astute investor would have dumped this dog years ago.
