2014 AUDIT? EXPENSES? PORTFOLIO? PDAC TRADINGStill awaiting the 2014 Filed Finacial Audit, which will reveal a lot and anser a number of questions and yet cause more questions, especially any comments, as there were in 2013, from the Auditor - Emphasis of Matter of finances and future? ( Refer to Sedar fr the 2013 Filed 2013 Audit)
End of 2013 - Annual Audit showed FNR lost over $59 million since inception - look forward to see what Auditors have to say for 2014 increased??? decrease???
Portfolio - noted on new website - examples - TEM - 5 cents - supposedly the extension of African Barrick Buky??? No Takers?- WTR - 1 cent - WGF - 1.5 cent DNI - 15 cents ( rolled back 1 share for 10) Troy - 3 cents GCR- 4 cents - Grfton Resources held for long time unable to determine a Real Value supposedly trades on the Irish exchange - Tom OK'd investment along time ago, swapped 1000000 FNR shares for Grafton shares - when asked Tom thought Grafton had sold all their 1000000 FNR shares - swapped liquid shares for illiquid shares. OMM/CVG - tried selling to many but NO TAKERS - formed OMM to hold CVG - small project. SGF - Shore GOld - ETC> ETC> ETC> some of thes epublic companies have little liquidity - Then we have Nucoal a private company - little value - Sask Coal - ETC ETC ETC
Expenses - FNR seems to continue with their larger staff and salaries and fees to outsiders. Even though TOm cut his payments to his MGMT firm from $1,000,000 to $150,000 this is still too much for a firm whose portfolio continues to bounce around the lows and with illiquidity. TM Mgmt shold just take $1 and pour that $$$ back into the company, cut the high salaries paid? cut back on entertainment and travel, if flying its West Jet Economy vs First/Business Class or Private Jet?( reimbursed as first class travel), avoid suites or expensive hotels, moderate price hotels and STD rooms. There is no need to have spouces (documented) travel and meals to be paid for. IR is nonexistent, so eliminate it. Etc.
PDAC - Trading is always interesting around the PDAC for FNR and other similar Juniors.
Stop by the booth and ask how much Real Cash FNR has? Debt? when is the 2014 Audit Financial Statement being released?
Suggestion to Tom, get rid of your illiquid investments, cut staff and expenses bring in a new MGMT Team who will rule as a Spartan no frills hard nose investment and a team that will get rid of excess. Stem the losses and red.
All the above in my humble opinion, Sedar and Public info, discussions and comments of FNR's MGMT and TOM ' own comments over the years.