TSXV:FCO.H - Post by User
Comment by
edmedon Jun 21, 2013 10:57pm
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Post# 21563140
RE: Gravey train continues
RE: Gravey train continues I agree
I believe the refinery is being sold in order to continue to pay the salaries of the board members so that they do not suffer during this downturn in the junior resourse market which shows no sign of easing for the next 12-18months.
That way they can stay in control of the resourse and wait for a better time to go back to the market in order to refinance for the 4th or 5th time...I have lost count myself.
Everything will be ok as long as their salaries are paid...and if a valuable refinery has to be sacrificed for the greater good then so be it.
Consolidation of 100:1 will be inevitable before a refinancing in a year or two from now.
Our shares will all be worthless by then.
I have really given up on this stock and keep it in my portfolio as a reminder of what NOT to do.
IMHO