BROKEN INVESTMENT MODEL NO FUTURE SCREAMING SELLFNR's investment model, as outlined by FNR and Tom Mac Neill was suppose to be investing in Junior Resource companies, balanced in various commodities, with a future and high returns for investors. Then they decided to go more heavier into Oil and Gas and Coal as part of their model. But, as of the end of 2013, Audited Statement, see Sedar Filing for 2013, Auditor advises since inception FNR has incurred more the $59 Million in losses and there were issues in raising funds going forward, Read the Exact Wording in the Auditor's report, under the Special Pargraph EMPHASIS of MATTER, as well the Auditor questioned FNR's future going forward if the required funds were not able to be raised. As well as continuing losses.
Poor return on Investments on COmpanies such as EPL, DNI, SGF, WGF, NuCoal, Allstar Energy, WTR, GCR, OMM, Grafton Resources and etc. - all these stocks at their lows and lack liquidity or are illiquid as private companies with no future. Many oth these stocks will set even lower lows going forward or go no bid due to MKT conditions, my opinion.
SIMPLY A BROKEN INVESTMENT MODEL based on expereince and very poor returns for investors.
Then we have the overstaffed and high expenses, my humble opinion, after a review of the financials and knowing FNR MGMT/Staff and so called outside Advisors.
All the above in my humble opinion and based on FNR's experience over the years, Auditiors Reports, TOM and MGMT's open discussions and demostrated very poor investment returns for investors and etc. FNR is a SIMPLE SCREAMING SELL.