i am impressed with management

You dont get many posts on HC, reflecting good things about managment. But I have been totally impressed with Brett Manning our Managing Director.

As a proffessional Trader, I have come across so many dodgey things in spec stocks with management, but with FWL I have long term held it (6months+ is long for me) for the following reasons;

1)Communication - I emailed Brett last night from the website, and got a reply within 1 hour. It wasnt some quick gip, brush off, he gave me a detailed reply, which would have taken him some time.
- regular company updates, how many spec stocks have I been involved in, that when the share price falls, you dont hear a peep out of management. FWL went through a tough time with financing, but still regularly every month kept us informed of the status!

2)Capital raising blunders - How many spec stocks get into trouble with Convertible notes, from the likes of La Jolle, and Spring tree, only to have their share prices totally decimated, yet still not cut them off. (UXA BCC CDY etc etc so many). FWL needed funds between the TFA deal so they got a few convertible notes, only to pay admin fees, not direct exploration costs, FWL then did a small SPP allowing loyal shareholders to get some cheap stock, and then used the funds to cut spring tree immediately off!! repaying it immediately. Restoring support for the stock, and giving the needed cheap shares to shareholders instead of Spring tree.

3)Director buying @ market - How many stocks (CEL for example, check the 15million FREE options given to the MD) do you see these so called "incentive shares" distrubuted to management, even when the stock is getting smashed. Like management need an incentive, to get the company performing. They get paid to do that!, but Brett mannning instead of giving himself loads of free stock, actually went on market and continually bought. Albiet small lots, but demonstrated management putting their $$ where their mouth is.

4) Negotiating deals - We currently have TFA doing placements to FWL at 3 times the current share price!! and have $20 million cash coming in for, more drilling, feasability study etc, thats cash, not a placement diluting shares more, but raw cash. and more placements @ 24cents and 20cents, when the share price is 7cents!!

5)FWL has never been in such a good position
- We have the cash, the drill rig in the ground looking for DSO, $20mill in project dollars coming to get the feasibility and more drilling done etc

I know we had to give up 66% interest in 1 of our projects to get the $29million, but to have a major player on board who can take us all the way through to production, and then will buy it all from us. Who is buying stock on market, as well as doing placements 3 times the current market price.
FWL wont need to do another placement for along time, meaning we have a pizzly 120mill shares. Too many spec stocks want to go at it alone, but by then they are so heavily diluted, is constantly delayed due to project funding and the upside is hamstrung. What 33% of a 4.5mill t/pa operation will equate to many $$ share price with such a small share register. Let alone if we find DSO.

Once again FWL has never been in such a good position. I challenge anyone to find me a cheaper better position ironore stock on the ASX. With all that cash, ($25million to come in over the next 18months when the last chinese regulatory stamp comes in) drilling for DSO, JORC resource of over 600mt. Major player on board.