performance

Well, it has to be said. Despite FMS stumbling on a massive amount of IO management appear to have shown consistent lack of performance with regard to shareholder value. According to CommSec the total SH return (av annual rate) is -

1 year - -51.6%!
3 years - 46.1%!
5 years - 20.3%!

I would say all LT SHs believe they are sitting on a resource worth many times the current value.

At the moment the SP is languishing near record lows of 2.8/2.9c after finally finding a rail/port solution. They appear to be unable to get value, at a premium, for the CR and a slice of the FMS pie. It would appear that many holders (or option holders) think it better to sell for a quick profit rather than hang on until the stock maybe gets to multiple times the current value. This, I think, is the market showing its confidence, or lack of confidence, in FMS management's ability to deliver on shareholder value.

I would like to see some considerable improvement in FMS marketing and believe that a change of the management/board should be sooner rather than later. Failing that I can only hope for a TO or JV with a proven management team.

I guess we have to ride with what we have for a while. Interested in others thoughts.