I have been a long time reader of posts on HC but this is the...

I have been a long time reader of posts on HC but this is the first message!

I find the dialogue intriguing regarding Fairstar.

Before I get attacked, yes I have been a holder of these shares for some time and yes I have read all of the communication and yes I have had to ride the wave of disappointment and hope.

But I feel a lot of people are not actually considering the details of the funding, the triggers for receiving of the cash, the timeframes under which this cash is going to be provided etc.

If people are expecting the stock to be active again prior to the AGM then IMO this is incorrect. The auditors have clearly stated that they can not give an opinion on the going concern of the business due to uncertainty with the funding. FAS can not proceed with the convertible note arrangement until shareholders vote on it at the AGM and the ASX will not remove the suspension, IMO, until the funding is finalised. So to me this means the shareholders actually hold the power as to when the stock trades again.

The report from the auditors is relatively positive. The operating costs of FAS once in production, as reported many times, is moderate and still viable (seemingly) against even a low iron ore $.

I dont have my head in the sand and think that KR has finally pulled a miracle from his a** but looking at the detail in a non-emotive manner the details are good.

I for one am excited out the 3 months following the AGM and will certainly be at the AGM. If the shareholders accept resolution 5 and the notes are accepted and called upon with the 3 months as stated in the notice of AGM then this will be excellent news for long suffering investors.