I might be cynical but given the glowing reference of KPMG in the letter, as well as the recent churning of corporate advisors, I suspect KPMG support a deal with FAS. The last paragraph "Your Board is also continuing to evaluate opportunities as they arise to invest in other areas that may be complementary to the Company's existing focus on the Wiluna West Iron Ore Project as well as its gold and uranium assets" may also be taken to suggest that something is afoot with FAS.
Not sure why they would not just focus on the assets that they have given appointment of the highly rated CEO.
The other laughable comment is that about the Company being aware that "the preservation of funds is a critical factor in the performance of the Company going forward". That is until of course they find an asset that they can pay an over-the-top cash price for.
I guess it is a matter of waiting to see the next brilliant deal that will be unleashed upon the general shareholders.
I continue to hold because I believe in the assets of the company. I just don't regard any of the people running this place as assets of the company.
GWR Price at posting:
29.8¢ Sentiment: Hold Disclosure: Held
