EXPENSES? MGMT FEES UP - Funds Issues for Resource IndustyIn FNR's filings on Sedar noted near the last part of the filed report for 3rd quarter it was noted in Feb.2014 - FNR raised TMM MGMT Fees from $10,000 to $17,000 a month - 70% increase - TMM MGMT is Tom Mac Neill's private MGMT firm that he collects his fees.
Where are the cuts in Expenses and Fees? in order to conserve Cash? Rewards for a submerging portfolio such as WTR trading for 1 cent ? WGF - 1 Cent - Troy energy 3 cents? GCR - 4 cents - EPL - 6 cents? end of 2013 Auditor reported losses since inception $59 plus mil - 2014 Auditor's report is due shortly? Reward of a 70% increase in fees for Investment MGMT???? on a portfolio that has declined and losses?
In the last week of so, we have companies declaring bankruptcies such as ANV, Quicksilver, BPZ? Molycorp questioning if it follows others in to chapter 11 - Husky and others cutting staff big time in order to cut expenses and losses. BHP, Rio and others also announcing cuts and sales in order to raise or conserve cash.
Bottom Line what is FNR doing? MGMT please advise? Perhaps they will address this in their Annual report with the Audited 2014 Financials and the Auditor's comments??
All the above in my humble opinion and based on filed Sedar reports, finanicial mkts, resource mkts, auditors comments, current prices of FNR's investments?
If I am in correct about the numbers FNR MGMT or their paid consultants/rep's please correct me?