Debenture Plan 1 Failed Now Plan 2,3,4? FNR's press release this morning, it apperas Plan 1 for Debenture holders received a loud NO, THUMBS Down. So we now have Plan # 2?? for Debenture holders? In a quick read of the news, I can't see why anyone wants to continue to hold shares/debentures or agree with these reworked plans? Then there is an indication that Plan 2 could change, based on a note in the pres release.
Nothing has changed, except a New Plan? FNR's MGMT and Staff and Expenses, even with the cuts is still bloated and excessive and their invesmtent model is and has been broken, in my humble opinion. The Commodity MKTS are in for a very rough ride over the next few years, simply ther eis no Growth and there are and will be further cut backs, China has several issues, Europe is a Black Hole for Debt and Growth, US Growth has been based on savings, which are now negative. YOu are going to see, on average 30% drop in Commodity prices. The question why do you want ot invest or hold shares ina comapny that says, quote the MGMT - Tom, his term, "Pennydreadfulls"
As I said before there needs to be a wholesale change, MGMT. STAFF, The Board, and ADvisors for FNR ALL Must Go, bring in a new Team, who will invest in qulaity and less risky projects/comapnies, add value to shares and live on and operate under a Spartan Expense Salary and Expense budget and be only rewarded for Long term results not short term. But, TOM will ignore this Advise.
Bottom Line I see/project FNR will go NO BID, right now it will trade under 15 cents and then go no bid, but as noted there are other Juniors that will go no bid as well as we see a Clean House of Junior and Mid size companies.
All the above in my humble opinion.