A few of you have been pretty quick to hook into management over the latest raising announcement...too quick I think!!!
I dont normally do this (...much less share details of it on HC) but I took the liberty to ring Barnaby a couple of weeks back. In the 20 minute converation I put this exact statement to him.
"The market's perception is that nothing is being done to increase shareholder value."
He obviously wasnt able to talk details but what he did tell me was that he has conducted DD on upwards of 30 different projects in different countries over the last 12 months. His travel intinerary during that time would make most of us weep.
My point is the reality of FUT is that plenty of work is being done and has been done to add shareholder value. It all takes time...but some of us want everything to happen yesterday.
Some of you will say..."So What?" The SP is still at .002 after all this time and effort. Fair enough too...thats why I rang Banaby.
To you guys I say...So what do you think FUT wants 4 million bucks for?
Nothing? I doubt it.
My gut feeling is they have a tiger by the tail...ie a new project acquisition, JV or something.
Only time will tell.
The only thing I know is...I'm a LT holder who has ridden the waves of expectation with FUT who is very keen to re-load with this rights issue. I dont think we'll be dissapointed. Im backing FUT!!!
FUT Price at posting:
0.2¢ Sentiment: LT Buy Disclosure: Held
