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Fenway resources has over 15,000 hectares of land on Palawan Island in the Philippines. The land is not speckled with gold or diamonds, but it is underlain by massive reserves of limestone and shale - the two main ingredients for making cement. Cement is something that is in dire need in South-East Asia, with its increadible growth and expansion. A feasibility study was completed by the highly regarded Kilborn Engineering Pacific Ltd. at a cost of C$700,000. The study showed that indeed a very profitably cement plant could be built and operated for the property. Fenway Management has been carefully taking all the necessary steps to commence to construction of the plant. The management has senior company experience in mine management, mineral processing, engineering, construction, administration, and marketing. Consider yourself lucky for reading this posting at the time that you are! Fenway is currently in the process of presenting the environmental study to President Remos and the rest of the Philippines government. This is the last piece of the puzzle. Written acceptance of the environmental study and the entire project is anticipated within the next couple of weeks. The Philippines wants this project. The need the cement for all the infastructure projects they have in the works. They are already in the process of constructing a power plant in the vicinity of the cement project. Once the enviro-study is approved, Fenway will arrange the acceptance of over US$320 million for the financing of the project. Then construnction begins. Fenway stock is currently trading at C$9.50, as we get closer to the start of construction the shares will continue to appreciate. With only 7.5 million shares issued the profit from cement sales will justify a share price many times higher than these current levels. Now, I'll touch on the best part of this deal: the short position. A very significant short position has been accumulated in Fenway's shares - one of the largest on the VSE. A lot of people didn't believe that Fenway could get this thing off the ground. A lot of are wrong, and it's going to cost them. It looks as though there's a VSE disclosed short position of over 200,000 shares. But that's just the tip of the iceberg. Apparently, there is a much larger broker unsecured short position (when a brokerage house sells stock without owning it or buying it back). Well, out of the 7.5 million issued shares there is only about 2.5 floating around in public hands, the rest is held very tightly. Now here's a simple question: what happens when a stock with a small public float and a large short position starts to move up? An increadible SHORT SQUEEZE!! There just won't be enough supply to satisfy the demand. The results could be astronomical! For more information on Fenway Resources there web site is stockgroup.com | ||||||||||||||
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