fas investor or miner

It is clear from the annual accounts of FAS as set out that Fairstar is an investmment company dabbling in mining exploration.

In the year to end June 2007 the company spent 750,000 on exploration of mining related issues.

In the year to end 2008, the company again spent 750,000 on exploration.

At the same time during 2008, the company spent over 10 million dollars (lost) on investment related activities.

During the same time it was investing 750,000 in exploration it paid its Managing director a Mine Manager, hardly an investment analyst a sum of 290,500 in base salary and 1 million FAS shares with a value at the time of 1,000,000 dollars.

In the year commencing July 2008, FAS is paying the Managing director an increase in salary up to $410,500, clearly in appreciation of the saving of expenditure on exploration.

To sum up during 2007-8 and 2008-2009 more money was paid to Kevin Robertson the Managing Director than was expended on mining exploration.

The facts are clearly poison ivy to some readers on here, but surely in these economic circumstances it is about time someone started to deal in reality here, all these "facts" are taken from the annual report just announced.

And if you can find any news of a potential income producing plan for the future please point it out- it eluded me. Kate Moss says she got it -