Sadly, I see similarities developing between FXR and Titan resources when it(TIR) was in its death throes! Titan, not too far back from its demise and eventual takeover by CSM( at around 5c I think)had lots of money in the bank,the leaching process patented and a huge amount of ore awaiting processing by WMC. Well from memory the leaching process/patent sucked up most of the cash and it was taken up by a london based Co which didn't help TIR holders,the huge ore stockpile was found to have impurities(at the last minute-unbelievable) that made it unsuitable for processing and the ceo and head geologist left. An excellent company once, taken out for a pittance!
It annoyed me when they sold Radio hill to FOX for I believed it still had value which proved to be correct and was the reason I got into FXR in the first instance,and if Radio hill is sold off to another public CO I will buy into that for I still believe it has potential.
So where to for FXR?
No leadership,no money or chance of raising any,but a few good assets/projects that need huge funds to get them viable and that won't occur in the short term.
So is it takeover/sell off core assets/wound up? Somethings got to give soon!
I do note that the former company secretary is now working for another CO that is advising FOX.
Advising on what I may ask!
FXR Price at posting:
5.8¢ Sentiment: None Disclosure: Held