To all those who are lining up to jump ship, good luck to you,...

To all those who are lining up to jump ship, good luck to you, you certainly do have unconventional investing strategies IMO, jumping ship as iron ore moves into the most profitable part of the year.

The December quarterly was very disappointing. I listened to the teleconference this morning, RB’s very scripted spiel was alarming. I will go back and listen to other quarterly teleconferences, I recall his presentations were not as scripted and his delivery was far more natural.

There are a lot of pi55ed off FEX at the moment, and rightly so, but December quarters are usually the poorest performing quarters of the year.

The chairmanship of John Welborn at FEX has started terribly, and any goodwill is out the window for now. A swift ambush of the AGM, proposed cushy fat reward for nothing, voting down of the MD’s incentive package who has delivered for shareholders up until then, that has since left the optics and harmony of the company looking shattered. Company communication to the market has all but disappeared, the only communication being the quarterly report that disappointed everyone and left more questions than answers, and a January EGM that was previously announced will not be delivered on time.


There is still a lot of positives moving forward, but unfortunately in the last few months far too many negatives have clouded the horizon. But the short and long term prospects of the company are still somewhat on track, and I’ll still sit back and wait, although more cautiously than a few months ago.