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These are the prospective buyers of FCM's 5 licences on offer.
Probably worth a follow if you are on X, they seem to be focussed on gold.
https://twitter.com/79thresources
Despite it being quiet there are only £10k of shares on offer before they want a premium, it shows how illiquid this stock is.
Hard to say when news on the 5 licence/projects up for sale will come however the buyer must have a clear understanding of these. The numbers are what everyone wants to know, however it would hardly be worth FCM's while unless they were of some scale.
Even if a package came in at $3m/$4m it would still be well above the current m/cap, you have to be in it to win, if decent sale proceeds are attained you will not be able to buy at anywhere near the current price levels on RNS day.
I expect buyers will return shortly anticipating the next update.
This time next year Chuteless ! I'm the ultimate optimist which is probably a terrible attribute for somebody dipping their toes into trading 🤔
Good luck and fingers crossed
As much as I’m invested here and would love to see it, I think you might be a bit optimistic there Gloope mate.
I think the reference to a couple of weeks was for 79th to do due diligence on all the data held for the sites, after that negotiations might start in earnest, I would guess at least six weeks before anything comes to the table , although 79th will want their ducks in a row quickly if looking at IPO this year
Just my two cents mate
Cheers
On the interview Marc said it will be a couple of weeks before the deal will be signed . News next week with a bit of luck 🤞
You would never have believed they are in the process of potentially selling up-to 5 projects/licences from the pathetic share price reaction.
Goodness knows why this sits around current levels, on the RNS day a rather grubby outfit announced to their brethren they had sold (because they were bored of the stock) so no doubt a few others followed as they have some Hive group.
The question is how much could these licences sell for, the range on social media sits $4m to $9m, the current m/cap is only circa £2.5m so why are folks not piling into the stock?
It has been implied more news will follow regarding the sale, the prospective buyer seems to be fast moving so not long to wait, unless the sale falls through completely (unlikely IMO) the current SP is a no brainer buy IMO.
Two decent buys there at full ask.
Should get up to the teens if this deal works through
Clarification: That would be 10p per share cash going into the business, but that wouldn't then value the company at 10p per share because there are the other assets (the ones that weren't sold) still there too.
Sorry HawaiifiveO I hadn't seen your previous post
Https://twitter.com/StocksTurtle/status/1777965926505140258
"FCM rumours of up to £9m aggregate sale proceeds from the 79th group disposal. Serious outfit with deep pockets.
That’s about 10p per share in cash.
3p to buy today. 300% move"
Like these short interviews, no one wants to listen to 30 minutes of self congratulation, a few snappy points, wham, bam job done!
I saw that Hawaii, not sure if those numbers are possible, who knows, seems a tad high but I would be a very happy fella if that did happen.
Realistic 50% of that, still thats double the sp!!!
From X earlier
https://x.com/StocksTurtle/status/1777965926505140258
#FCM rumours of up to £9m aggregate sale proceeds from the 79th group disposal. Serious outfit with deep pockets.
That’s about 10p per share in cash.
3p to buy today. 300% move
Market Bull interview.....
https://twitter.com/TheMarketBullAU/status/1777923006263914899
Puts a different perspective on things the Dave Webster video
Thanks! I was watching a different video, doh! I was watching the Stockbox from yestwrday.
You can lead a horse to water….
9min 30 sec onwards
https://m.youtube.com/watch?v=urgseVlGif8
Jonnie,
I don't doubt you but I wonder if I'm watching a different video. I've watched it over and over at 9.43 and can't hear about the cheque.
Marc even?
The market bull. On twitter
I believe Mark is doing another interview today.
No more details. Worth keeping an open for
From Telegram, could be way out but whose to argue!
-------------------------------
Another positive interview on the ‘asset sale’.
Been thinking overnight what is being sold and what price do we think.
Current market cap £2.5m.
Five being sold and they are keeping North Hemlo if drilling if planned I suspect.
There are six permitted properties.
So I reckon the five under review are likely the five permitted excluding Hemlo.
Values then?????
Zigzag £3m?
Sunbeam £3m+
Esa £1.5m
McKellar £1m
Enabke £500k
That’s £9m but I am likely being over confident. So deduct 50%.
£4.5m or so
That’s 5-6p in cash.
Plus remaining projects with no dilution likely for years.
This really could be something special. Yet again people asleep on it.
Paul Johnson recent tweet which I agree given todays news, current £2.6m market cap is pure lunacy.
@pauljohnson9691
Market responded positively to this news - another brilliant example of a company seeking self-financing approach. It’s clear to me @FirstClassMetal #FCM should be valued many times higher than current cap.
https://finance.yahoo.com/news/seventy-ninth-group-announces-plans-143000530.html?guccounter=1&guce_referrer=ahr0chm6ly93d3cuymluzy5jb20v&guce_referrer_sig=aqaaaaebmubglvwstihrndrcboto1b0jz5pjfepxpr9guqeo-ydnpolduuyfs995hc81ohxxtoqvyiyue9z8c3y3rugupr6sy6jsnkuafpal2umeh0ciihkfgzteav4f***7r4ad9jm-axneq0z85riujqtqvd5i0_zer2rvveozdaql
seventy ninth group announces plans for expansion into canada
southport, uk --news direct-- the seventy ninth group
seventy ninth group (the “group” or “seventy ninth group”), an asset management company headquartered in the united kingdom, is pleased to announce its plans to expand the operations of its natural resources portfolio company, seventy ninth resources (the “company” or “seventy ninth resources”) into the canadian capital markets. the group is currently in the process of identifying an appropriate business combination target for the company to complete a merger or similar business combination transaction. once an appropriate business combination target has been identified, the company intends to pursue a listing of the company's securities on the tsx venture exchange.
seventy ninth group specialises in the acquisition and redevelopment of undervalued assets across its core sectors of real estate and natural resources – the company is a portfolio company that is owned and operated by seventy ninth group.
the group is owned and controlled by the webster family, who hold a unique position in both the real estate and natural resource sectors, specialising in the acquisition, management and development of high growth assets with a focus on deploying sustainable investment strategies.