After made bit of profits (thanks to Sichiun TFA), I'm having a bit look at this stock.
TFA International at 8c did not bought at bottom as Eyeoverit posted. I think TFA has some interest in this project as they decided to buy more shares AFTER knowing no DSO. However, at this stage I don't see iron ore projects get anywhere. Look at FMS, ROY, CAP, etc. all dropped like stones into the ocean.
I had a look at MPI (Kobe-Steel), I thought it is ok to impressive. Unfortunately, most investors don't see it that way & have no confidence in this project. Hopefully, gradually people will appreciate MPI more than pellets which require railways to transport massive tonnages.
Some info http://www.metallics.org.uk/pigiron.cfm
I'm not as negative on FWL as Nose at current 2.5c sp. I regularly acknowledged the fact that Brett Manning deferred his salary payments to avoid dilutions. But still the project got nowhere.
Looking at large holders, some of them may not subscribe eg TFA International (if others don't subscribe, TFA will go over 20% need approval, but they may subscribe), Phil Ever (past away, sadly), Sin-Tang (probably not), De Belle???
I don't think it will dilute much, but I don't see FWL gets anywhere.
LCG Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
