jv with qrl, page-14

denver, you have me a little wrong, I have no problem with people having BUSINESS relationships to (hopefully) maximise returns to shareholders, I do have a problem however when business relationships become intertwined with PERSONAL relationships. Why - well, because judgements can get clouded by personal relationships, shareholders interests can get lost when business decisions are made because "blood is thicker than water" or because of whom one is sleeping with, rather than on merit.

I'm not saying that has happened in this case; the jury remains out, it may be a piece of brilliance by the McNeils, the deals done may well turn out to be magnificent though I doubt it. Any form of nepotism is not a good look, eg the Qld government Minister who got the high-paying job in her mate Minister's Department for her 25yo inexperienced son without a formal selection process wasn't a good look, just like failed Qld-Premier Anna Bligh getting a plushy Directorship with Medibank Private courtesy of the PM isn't a good look! It smells of favouritism.

I very much doubt my pontifications on this site have had even the slightest effect on the sp, I have spent more than $150K of my hard earned acquiring a decent stake in FNT based on news provided during the last 3 years and I'm entitled to my views. And they are I am very disappointed with what has transpired in the last 3 to 6 months, had I even the slightest inkling the Torque and QRL deals would be done with family then I would never have invested - I can cope with poor drilling results, I can cope with capital raisings, I can cope with many things .......

But I can't cope with illogical ventures with family members using shareholders money as if it was the McNeil families own. Surely the INDEPENDANT Board members also think this (are there any?).

I certainly wouldn't average my price down at the moment, until the nepotism goes it'd most likely be good money after bad! If/when I can get out with half my investment, I will, please Peter some good news for a pump and dump, get the price to 8.5c and I promise to stop whinging.