FWL really need to write all those iron ore projects to zero, than focus on other minerals eg Nickel and Copper. I don't want cross promote other companies, but seriously iron ore junior is dead end. Even MBN came back from dead (voluntary administration now sp rocketed) because of rise of nickel price.
I think FWL should raise fund to buy a great nickel project (ie quality one) and the short fall shares will be subscribe by TFA. For example, some good project may be worth $20m, FWL (if the project is good) can raise $5m from holders and $15m from TFA.
I know several good projects with mc about $10m or under (used to be $70-100m) and it is good time for FWL to see outside their circle of iron ore play. Why just iron ore and knowing iron will stay low for may be at least 10 yrs? Develop other projects (eg Nickel and copper), generate cash and wait for MPI to develop into advanced level. MPI is still another 5-10 yrs of technological advancement before it can be profitable.
The problem is according to announcements FWL board still think they got projects to continue on. For example, Brett was disappointed when most holder did not subscribe notes. He needs to realise he is a shepherd without his sheep, just subscribe his own offer and window dressing... when will this end?
Nose, may be we can run this company better.
Just IMHO, do your own research
LCG Price at posting:
1.0¢ Sentiment: Sell Disclosure: Not Held
