FairPoint Communications FRP

Trouble...

[matthew77]

Little of what Peter Tegart said in webcast Monday gave me any short-term comfort. 1. Joint Ministerial Approval for ETR in Greece still pending with timing "uncertain". Approval is certainly expected but we could be months away yet from getting it-----further delaying scheduled production start-up of January, 2009. 2. Peru drill permits still not yet received for any areas outside of Calvario 3. Peter says the delays are due to the backlog of 600 or so permits that are in the Peru system. Admits the permits have been "slow in coming" but expects the rest of them by the end of February--------we'll see. At the moment just one drill rig on the property, drilling Calvario 3. We have fallen well behind schedule on this 20,000 metre drill program. 3. Dixie Creek. Hole crossed a fault and terminated at 3,525 feet. Clearly some doubt in Peter's mind, based on what he had to say, that FRP will continue with Dixie Creek. Still holding out some hope, but the impression I get is that FRP will abandon this project in the near future. Bottom line-----DO NOT expect a mother-of-all drill intersection from Dixie Creek which could propel our stock. So...in summary...the waiting game continues. This stock has heavy resistance at the .70 level. There is NOTHING to move it higher right now, except some possible external factors such as a huge jump in gold or another spike in uranium. I stick with my previous prediction-----I believe FRP will get hit hard this month and as soon as we fall below support at .60, watch out. Certainly very vulnerable to a sharp correction. I still hold some stock, but I sold 75% of my position. Long-term I remain bullish. I know Peter and his team are working hard at pulling everything together, and I obviously hope they are successful. Everyone just needs to continue to be patient and the rewards will come down the road. In the meantime, however, the impatient ones will be driving down the stock price IMHO. There are other BETTER short-term opportunities out there, and that's what will keep downward pressure on FRP. GTLA. Keep a close eye on AMC by the way.

[doctman]

The only impatient one trying to drive down this stock seems to be you, with your constant doom and gloom scenario. People continue to buy this stock for what it holds in the coming months, not in the next few weeks. If that is what you want go day trade. By the way, Embry on ROBTV today said this was a great story.

[poserv]

embry is a fanny and knows hee haw

[zuke991]

You must be angry at yourself.