Corporate updateI thought the corporate update was good.
It's worth the read.
Good assets and strong cash position.
Income from dividends and KWG shares as interest payments.
Having said that, I was never a fan of ousting Peter Smith. If you look back at my posts on another board during that period, I argued hard for Peter and voted many shares in his favor.
Furthermore, the financing seems questionable and deals that enhance personal wealth gives the appearance of a conflict.
I understand people feel those in authority should take a closer look at what's going on here, but it doesn't look like that is going to happen...and it looks like the financing is a done deal.
Moving on from that, they could have sold more CIA shares...I'm glad they didn't do that...they are cashed up...and most important, insiders have more skin in the game.
I personally think the KWG deal was a great deal for FNC shareholders and some of the other deals have potential. Other assets, like Magpie, appear to have lots of unrecognized value.
I'm looking forward to seeing more deals, where other companies fork over cash and at the same time help to move projects forward.
Still optimistic on FNC
Still holding lots of shares