OTCPK:FRSAF - Post by User
Comment by
ThyFishon Apr 26, 2012 5:25pm
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Post# 19841141
RE: Is this a good entry point?
RE: Is this a good entry point? I'm a fairly new investor in FAU, purchasing 100k shares at .22 a couple of months ago. I have been watching for over a year and thought that .22 was the bottom. Fortunately I'm more of a buy and hold type guy then a trader. Unfortunately for me this company has done an absolute horrible job informing the markets as to what is going on and in securing financing. I have written several emails and received the same blanket template response. I finally got a hold of Nina Lafleaur who at first was not prepared to answer any of my questions but I got to open up a little.
I had asked why the quarterly results had not been released as a NR? She basically told me the results weren't that great and they felt it was better to not to release publicly. I asked why the original credit facility was done with Sprott at such horrible terms knowing that Sprott was such a large investor? She fumbled for an answer, to me it seems as though it was throwing Sprott a very nice share and cash bonus for hanging around.
At the end of the day, Fireriver should be as transparent as possible whether the results are good or not, markets like honesty. When someone tries to cover something up there is usually more trouble lurking around the corner. I hope for the best but definitely won't accumulate anymore, IMO it is way too risky at this point. Hope it turns around soon but I wouldn't bet the farm on it.
ThyFish