FNA Export and Terminal Corp

[frustrated1]

FNA claims it's got all the backing needed to buy Prince Rupert termianal, coming from farmers. That would indicate to me some of the wise ones on here may have some input. Does anyone have concerns over future maintenance fees, liability back to the farm, etc? First glance to me I came up with more questions than answers yet there may be some upsides if the plan comes together? Anyone out there buy in? Thoughts? Concerns?

[chaffmeister]

Prince Rupert? I thought it was the old UGG terminal they were looking at (the one that AU is forced to sell).

[frustrated1]

Yes, Vancouver. Brain blip, I was day dreaming. Regardless, anyone with thoughts on the viability of investment?

[craig]

On the surface the business plan looks a little weak but on the other hand FNA has been successful in some other endeavours. In today's world of rationalization there is a need to explore opportunities in value chains and encouraging competition. I felt is was in my best interests to support their efforts and see where the chips may fall.

[nicolaas]

I bought in. If they are successful with their bid, then I will own the right to ship 1000T of grain to them. THey say I will save from $4-12/T on elevation fees. This is good for 20 years, and stays with the farm. If this goes ahead and I realize even $4/T, then I will pay it off in 4 years. I put my trust in them, hopefully it works out. Considering my fertilizer bill for the coming year, I won't even miss my 15K I spent if it all falls apart - though they say I will get it back if the bid is unsuccessful. I believe that there must be money in handling grain, so there should be some savings.

[cropduster]

Hey,Nicolaas,got an `88 GMC pickup here you might be interested in too!Great runner,4x4.....20 years old and just coming into prime!Just think you`ll only have to keep it for another 5 yrs and it`ll be an antique!Just like your exporting idea.You gotta be from NDP country! Still got it on the brain to see how FAST you can export the jobs and people!Keep it up.....Alberta needs the best people you got!!

[nicolaas]

cropduster--??????????

[frustrated1]

nicolaas: In the various propoganda packages and phone calls I found the overall plan a bit vague. Did you go to any of the meetings? What happens if the terminal needs major repairs? Is there a "condo fee" type structure or do our returns just decrease? I do like the guarantee of the money returned and once we've bought even a few shares we can buy future shares at that same price. Any flags go up for you yet?

[TOM4CWB]

Cropduster...

Hey give nicholaas a break!

Probably better investment than buying old rail cars... wouldn't it be?

I would be worried about rebuilding costs for the old terminal though!

If we can get things opened up... it could be good for MT and ND grain as well... but I would like to buy into Rupert long before that old terminal in Vancouver!

[nicolaas]

TOM4CWB, Rupert would be ideal...you must live in the peace. No such opportunity for that terminal though, and the rail service to there really sucks. The way I see it, the more different players at the coast, the better. I am glad they were able to get enough farmers to sign up to enable them to make a bid. For all the naysayers, I guess we'll wait and see what pans out.