ABLM you forgot the emergency Cap Raising at 8c which was under...

ABLM you forgot the emergency Cap Raising at 8c which was under subscribed and then cancelled once the NCM JV was signed.

That was the first SP hammer.

Since the SP sank below 10c it would appear everything humanly possible to smash the share price lower has been done.

No News flow. No Good News when it comes.

Assets being spun off (without any reasons given to market as to why) and holders losing 90% of their current interests in those assets - which are now being touted as good "producing" assets with room to grow and potential for a major discovery.

FNT's limited funds being used to do HeliTEM and drill a dozen+ odd cores for Torques IPO buoyancy insurance.

FNT's limited funds being used to prop up a company that has managed to drill 3 holes in 18 months. That's an average of one hole every 6 months. PITIFUL IMO.

It's no mystery to me.

Peter might be a good Geo (I don't know that - I'm just going on others perceptions of his abilities)

He may have even managed to get some good JV deals signed.

But he has certainly got plenty of room to improve when it comes to "in house" deals.

Investors run a mile when they see this kind of behaviour as it wreaks.

Linliu - PNG is not the problem. News flow > confidence and lack of positive results are the problem.

While FNT doesn't need to raise cash there is no impetus for a SP pump.

No High Grade Rock Chips - No 100m @ 150g/t Au Trenching results - no blue sky mining.

NCM and Ok Tedi aren't buying.

Directors aren't buying.

Nobodies Buying. That's the problem.

People can just put in a low bid and wait for someone desperate enough to free up funds to sell down to them.

Wait for the bounce and offload for 20% profit.

No other profits to be made here.

Yet.

Watching and waiting.

Paint dried ages ago...


With the majors signalling a strategic move to rein in costs and concentrate on lowering opex to drive productivity improvements - high capex + high opex projects aren't in vogue and are looking likely to remain that way for some time to come.

http://www.abc.net.au/insidebusiness/content/2011/s3697015.htm


In saying all of this... I believe at current prices its cheap. But who knows... could be cheaper yet. Any reason to rush ?