FINANCIALS ??? INABILITY/ABILITY to Raise $$ - Strong SELLTotal INCURRED ACCUMULATED LOSSES totalling $60,895,000 since inception
FINANCIALS - AUDITED for 2013 - Ernest & Young - Special Note on Audit Letter - "EMPAHSIS of MATTER" on the question and ability as a Going Concern in the future - refer to the Audited reports filed on Sedar 4/30/2014 - for the exact wording and Audited 2013 Financial Statement.
NON AUDITED Report filed on 25 August by Company, with Qualifiers as a Non Audited Report but, let me draw you to specific wording on "Note 1" on the NON AUDITED REPORT which contains the similar wording as respcts to the Auditor's on the 2013 Filed report - "Empahsis of MATTER" on AUDITORS LETTER.
Quote from Non Audited Report - Note 1 - 3rd Paragraph :
"There can be no certainity as to the ability of the Corporation to obtain sufficient financing to continue its operations including operation of its subsidaries or for its subsidary companies to recover their exploration and evaluation assets or to obtain sufficeint financing to continue their operations. Accordingly, there is signficant uncertainty as to the ability of the Corporation and its subsidiary companies to continue as going concerns."
FNR needs to be able to raise funds?? How much can FNR raise in New CASH??
As with valuations of private equity holdings well they are in the eyes of the beholder?? Always prefer real AUDITED and INDEPENDENT Valuations.
READ both 2013 AUDITED, especially the AUDITORS LETTER, "EMPHASIS of MATTER" comment and the NON AUDITED FINANCIALS of 25 August filing, All on SEDAR.com.
In my humble opinion and based on SEDAR reports and FNR's discussions and Statements, conditions in the FINANCIAL and COmmdities MKTS- FNR is a STRONG SELL.