Thursday, January 6, 2011

Where's the Beef?

Wellington West has been a seller of FAU paper over the past few days and that can't be good for retail rank and file types. "We keep it simple. We make it personal. We make it fun."

Well congratulations Wellington West, losing money is never any bloody fun and you can quote the brainiacs at the Fire River Gold blog for the next sound bite.
So where's the FAU beef these days? This observer would not touch FAU paper and the reasons have been documented here in great detail. Throwing $ 7m away in direct contradiction to every engineering study ever done at Nixon Fork absolutely reeks, even by hopeless Venture Exchange standards.

The public cannot possibly believe this management knows more about Nixon Fork than the engineers paid to study it over the past decade. Assuming otherwise is a guaranteed way to lose money on what appears, from the available evidence, a hopeless proposition.