FEC Resources Inc. (FECOF)

[styl]

philex has had control over 51% of fecofs shares for the last 3 years or so....they bought a big chunk around 2 pennies(50%).....they were able to change the board of directors completely last year and put all their guys in, just before they anounced their goldmine was a complete bust. Theres always been a worry that they could sell us out and buyout fecof for pennies of what its actually worth( i definitely feared that) and we have debated it in the past but thankfully it never panned out.........instead it seems having Philex meant more support by the philipines govt. as in which was the case of making deals for navy ships to protect sc72..etc....
thats why i said 38% and half of 24-25% of Fecof shares of fep.........being that philex owns half of fecof.
fep's website says fecof has 25% of fep..........but i have seen other articles released that has fecofs share of fep has dwindled to around 23%
I believe philexs main driving force for buying fecof has always been its ownership in fep........Philex had made in the past an outright buyout offer for FEP and they rejected.......so it seems they got what they wanted (control) of fep indirectly from fecofs shares.