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post Posted: Dec 10 2010, 09:40 AM
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Long time since anyones commented.

INQ has had a steady uptrend since July and has seen a recent pickup in volume. IMO looked stong moving into the 10-11c level and just hit its 12 month high a moment ago at 13c. Looks good for further upside.
post Posted: Jul 17 2009, 12:15 PM
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Renamed by request:




post Posted: Feb 2 2008, 11:14 AM
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Kevin Andrusiak | February 02, 2008

THE Australian Federal Police raid on the office of Findlay Securities and
two of its senior staff have cast further doubt on its work in backing the
Fairstar Resources all-scrip bid for Golden West.

AFP officers are believed to have seized computers and documents from
Findlays and the homes of director Robin Armstrong and senior trader Jeremy
Slater on Thursday amid market rumours that the police will look at their
share trading in both companies.

Fairstar, led by quarry manager Kevin Robertson, has been rejected numerous
times by Golden West.

It says the all-scrip offer of seven Fairstar shares for one Golden West
share is inadequate.

Golden West, chaired by iron ore industry doyen Geoff Wedlock, controls the
lucrative Wiluna West iron ore project in the WA outback and shares a
similar share register with Fairstar and adjoining offices in Perth.

Both companies have similar share registers and office space in Perth and
have been backed by Kalgoorlie driller John Doutch.

A further complication this week was the surprise revelation by Golden West
major shareholder Dubai-based Falak Holdings that it had "accidentally" sold
its 8 per cent stake into the Fairstar bid, which took Fairstar to a holding
of 33 per cent.

Falak had promised it opposed the bid and had initiated an extraordinary
general meeting to remove three Golden West directors: Con Markopoulos, Alan
Rudd and Mick Wilson.

The meeting was originally scheduled for Tuesday but was been postponed to
February 19 when Golden West won its application to the Takeovers Panel to
investigate the share transfer.

Falak has instructed lawyers to seek the return of the shares from Fairstar
ahead of the meeting.

Neither Mr Markopoulos nor Mr Wilson returned calls from The Weekend
Australian and Mr Rudd, who is also on the Fairstar board, could not be
contacted for comment.

It is understood, however, that Mr Markopoulos recently met Falak
representatives in Dubai and was accompanied by Matt Tomas, a business
partner of Melbourne underworld figure Dominic (Mick) Gatto.

The raid on the Findlay offices added to doubts about its backing of
Fairstar's bid, which has been weighed down by funding issues.

Mr Armstrong declined to comment last night.

Findlay had promised to underwrite the bid before recent falls on the
Australian share market triggered a get-out clause.

It is unclear if Findlay has decided to walk away, and Fairstar managing
director Kevin Robertson confused the issue further on Thursday when he said
the Fairstar board believed the underwriting obligations were still in play.

However, he told the Australian Securities Exchange, "Fairstar understands
that Findlay does not support this view".

Through a third party, Mr Robertson said yesterday that he believed Findlay
would meet its obligations.

Fairstar would need to raise upwards of $40 million to complete the deal,
well above its current market capitalisation of $30 million, while Findlay
is desperate to receive the generous fees attached to the deal.

Golden West and its advisers are believed to have made new approaches,
without response, to Fairstar to clear up the funding arrangements, and may
make a third application to the Takeovers Panel to resolve the issue.

Fairstar posted a loss of $1.85 million for the six months to the end of
December and is burning cash at the rate of $1 million every three months to
fund the takeover bid.

According to its latest quarterly announcement, Fairstar expects to spend
$500,000 exploring its various tenements in the current quarter.

Its bank balance stood at $1.47 million on January 1.,00.html

post Posted: Dec 11 2007, 08:52 PM
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Not sure if FDY shareholders are following the FAS-GWR takeover... But if you're not you should. Findlay is set to make 600K if FAS gets 50% acceptance, a further 900K if they get 90% and around $5mil if the deal is successful.

The takeover has stalled for a week or so but tonight FAS has bit back with a revised offer. 7-for-1 instead of 5-for-1. But the big news for FDY is that the offer is now unconditional. FAS already has 32% of acceptances. So things are definitely looking sunnier.

To put the fees in perspective, FDY currently has a market cap of around $12mil. Please DYOR

post Posted: Nov 14 2007, 01:22 PM
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find me a cheaper stock.

great announcement.... Volatility = profits biggrin.gif biggrin.gif

post Posted: Nov 13 2007, 02:49 PM
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In reply to: roddombo on Tuesday 13/11/07 03:39pm

this site will have more when the prospectus comes out


post Posted: Nov 13 2007, 02:39 PM
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In reply to: gizard on Tuesday 30/10/07 01:04pm

Fdy picking up some fees on this five mil raising. 2% probably to them after fees to staff of similar so maybe 100K of profit. (can't confirm this as haven't seen prospectus and its not on the asx site but its likely)

post Posted: Oct 30 2007, 12:04 PM
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hopefully going up


post Posted: Oct 19 2007, 04:08 PM
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In reply to: gizard on Friday 19/10/07 12:43pm

Also note that FDY's exec director Robin Armstrong, who is already a substantial holder, is also on the board of this new sub holder Broad Investments.

post Posted: Oct 19 2007, 12:43 PM
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new sub holder

lets hope other people start buying


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