After reading all the material provided by FWR, I believe that FWR BOD are very concerned about their shareholders, and want their shareholders "properly" compensated, to reflect the true value of FWR...This came across to me throughout the material...
One clear example is the consequences to FWR shareholders states IF they turn their FWR shares in, they will be subject to their BOD...From a personal view, their BOD is not to be trusted...a few examples of this..
Earlier this year their stock was around 50 cents...Pls look up a copy of their chart for this year to confirm for yourself...What drove the price to $3 in just a few months? IMCO , public overestimation of their findings at Eagles Nest. .Their statements, along with the "addicts" were saying that their findings were "spectacular" and that it would triple their ore reserves at E1....The "facts" they eventually released showed nothing of the kind... They announced 2 small strips of some mineralization, described by many as "pencils", lower grades than E1, and no where near an amount that would triple E1...BUT most important is the fact that this new small body is 2,500 Feet below surface...Mr. Joe Hamilton in an interview in May/June 09, told the Sudbury Journal that at todays prices, E1 was NOT profitable...keeping in mind that this new "pencil" is much deeper underground and these costs would be much higher than E1..So the actual result is that E1 and Nest today are not profitable...NOT stock began to fall when the BOD released these results, until they announced the "hostile takeover" of FWR, who have a Chromite deposit, Chromite, which the NOT BOD had been saying up for years to this point, that it was "worthless"...
The NOT BOD are now releasing results for a minor Gold discovery, which they describe as low grade, along their Chromite discovery...as it stands today these 2 "finds" are NOT profitable, yet a Big deal is being made out of these 2 non profitable deposit...the infrastructure costs alone will make them not profitable, when added to the low grades, and limited orebodies...
Alot of fuss has been made about NOT's large land claims at McFaulds. and that FWR only has limited claims in the ROF...well, the amount of land is really a minor item, as exemplified by BMK and TME and others who hold large land claims, have no profitable "ore" discoveries, and the markets are giving them a value of BMK 13 cents and TME 16 cents, not really much value for land ,until a "HIT" is made...FWR could easily option or buy alot more land if they so chose...so this land issue is really not important....
All the material released by FWR showed me great concern for the FWR shareholders,in this sense, that FWR will shortly have a 43-101 prepared on just 1 of their "hits" Black Thor...IMCO it is at this point that the markets will recognize the true value of FWR, in just 1 deposit of their 4 or 5 deposits....At the same time, I felt FWR was communicating yo me that old saying "a bird in the hand is worth 10 in the bush"However in this case, "geology" the odds are far far greater of finding a "profitable" ore body...the complexity uniqueness and rarity of the process of ore concentration and deposition such as we have with FWR's Chromite PGEs etc. is very unusual undeed...In all mining Camps there are wiffs or showings that are not profitable, even at ROF...an example is BMK, who "hit" 400 Ft of 0.20% Ni..a couple of years ago, and the markets quickly saw that this was not profitable....so that not all "hits" are profitable, so that would be the bird in the bush...well we have our bird in the hand, almost proven , and it will be when the 43-101 is done in less than 60 days...I believe the "puny offer" came so quick,sudden , because they did not want the FWR 43-101 to come out, publicly, they knew this report would skyrocket interest in FWR...
So I respectfully ask you to listen to the FWR BOD, they are men in the know with hands on experience, no hedgies, so sit tight DON"t turn in your shares and get pennies in stock that may not turn out in the end with no profitable orebodies,when you can get $$Dollars whci you can put in the bank or wherever... you will be in control of that money...I believe FWR BOD have our best interest at heart, and they will eventually get us all the most compensation ($$$) for our deposits....
IMCO
JD*
