FAS 0.00% 0.4¢ fairstar resources limited

time to sell

  1. 203 Posts.
    The appalling market which is steadily worsening suggest not, as one would not normally want to sell at the bottom of the market. However, is it the bottom? and, with the iron ore spot price in freefall and no light at the end of the tunnel, maybe FAS's best option for the shareholders would be to sell for the best price that can be obtained, bearing in mind this is a buyers market. Nonetheless, I can't see FAS staying solvent much longer without being able to raise more capital. With a share price of 5c, and the appallingly tight capital markets FAS' scope for cap raising is tantamount to zero. Furthermore, this market is likely, imo, to get a whole lot worse before any improvement on the horizon, which may come in 2012 if we're lucky.

    Perhaps it's time to cash in the chips and call it quits. FAS has no other asset than the GWR shares, which have just appear to have bottomed out in the 50's. Anyone any better ideas?
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