OTCPK:FRSAF - Post by User
Comment by
Tomkinson Jun 30, 2012 2:37am
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Post# 20071474
RE: RE: RE: RE: Remember this NR
RE: RE: RE: RE: Remember this NR I do not think Waterton wants to take over the mine, they are into financing not mining. Nor do I think David Russell is stupid. I think there was a shake up because of the attempt to dilute, and someone in a very strong position voiced their concerns. Waterton would not of done any financing for FAU if the mine was going to go down in 1 or 2 or even 6 months. They would have gone over the books before handing out 12.5 million. I would not even doubt that the replacements for the board have already been chosen, and that someone in a very strong position may have had something to do with that. You have to admit that no one was impressed with Goodwin. I am sure all Waterton wants is the cash and not the mine.
For the last year financing has been very difficult for gold miners, and we are a very junior god mining company. Six months ago the analysts were saying on BNN, if you are invested in gold mining companies make sure they do not need financing. Just being able to get the financing is an achievement when you are a very junior mining company.