The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It has - just visit JAY instead of FAM!
Why hasn't name been changed on this sight ?
FAM, hello JAY.............
You would think that a stock that has more than 15 bagged in just over a year would pull some attention would you not?
Better than 10 to 1 today and some really chunky buys in there too. Perhaps we are beginning to get noticed?
Excellent podcast on now with Justin Waite.....17 minutes 56 seconds...really good stuff Also excellent Mike Walters report out today on FAM, very very upbeat
I have lifted this from a respected poster on ADVFN. This was 5 months ago and the results are now due very shortly, by mid March or sooner. So just a month or less. As a result of the 2016 fieldwork, the Company has confirmed the two core target areas that will become the focus with respect to future studies. These are: -- Moriusaq Bay and surrounding area, a low-medium tonnage target that encapsulates the bay and proximal active and raised beaches with grades in some areas estimated to be in excess of 85% ilmenite; and -- Interlak, an area dominated by huge deltaic deposits with associated adjacent high grade beaches (see Figure 1 in PDF link) with grades in some areas estimated to be in excess of 70% ilmenite occurring as thick sedimentary bands. On the active and raised beaches, a total of 260 auger holes and trenches were sampled during 2016. Additional trenches were completed for metallurgical sampling purposes as well as stratigraphic mapping purposes, creating a bulk metallurgical sample in excess of 500kg. This sample has been sent to Perth, Australia where analysis of the sample will be undertaken to continue to optimise the mineral beneficiation process. Figure 1: Locations of various work programmes during the Pituffik 2016 field season - See PDF link Moriusaq Bay has consistently returned the highest grades of ilmenite to date (average of more than 35% ilmenite) over the bay area whereas Interlak offers a very large volume target also with high grade areas. The majority of the ilmenite occurrences at Pituffik are derived via the winnowing of the deltaic sediments by wind, wave and current action with the broader Interlak catchment area interpreted as being the main feeder zone for the Pituffik project area. Of significance, a new area east of the Interlak delta has returned potentially the highest-grade estimations from the entire project area to date at more than 90% ilmenite. Figure 2 (see PDF link) shows thick layers of ilmenite rich sands from this area. There is potential for significant amounts of ilmenite at this location. As a result, the Company expanded the work programme at this target and delivered a further 26 trenches averaging >1m deep to test as much of the area as time allowed with similar high grade results achieved in most trenches. Figure 2: Ilmenite accumulations in trench east of Interlak delta, thick layers of black sands are ilmenite rich material - See PDF link On the drowned beaches a total of 240 samples were taken from both the larger vibracore on the MV Kisaq vessel as well as the smaller pontoon unit. Vibrocoring is a technique for collecting core samples in shallow water environments and wetland soils. Vibracore sampling was conducted to the north and the south of the Interlak delta over more than 6km of coastline by both the Kisaq (see Figure 3 in PDF link) and pontoon deployed vibracore units. A series of scout holes were also placed further east in a depress
nice meaty ones.
To finish..plenty buyers still around.
Yes if you go to meeting please mention it. Very interesting one hopefully. Slight dip here so far this a.m. hopefully get a lift up later...atb
Folks - ignore Richie66 who imo has his own agenda. He had a bash at Finn Aust last October when he revealed that there would be a placing and alleged that there were problems with the placing which allegation, as the market knows, turned out to be incorrect and it was oversubscribed at 7 pence (the offer for the stock was over 9 pence at one point yesterday}. The market knows that there is a JORC resource due; there have been comments in RNSs that there is some high grade ilmenite within the sands which are in place over 50 miles of beaches and shallows. It may prove to be one of the world's best sources of ilmenite if not the best. I am taking no notice of his attempts to downplay the company, the board and the share price and I have been adding to my investment since the December placing.
With respect, I have complete comprehension of the deal. I understand that we are to issue 100m+ shares for the option to purchase 39.63% of Bluejay. It is quite clearly highlighted: Acquisition price of £594,393 to be satisfied by the issue of 108,071,388 new Ordinary Shares to the Bluejay Vendors. The total shares that have issued for Bluejay will amount to 272,727,273 for a £0.9m purchase. In terms of value for FAM shareholders, I have my doubts. In terms of pure arithmetic, there is no basis for the monetary amount being attributed to the deal.
I may go to the general meeting on 10/3 and anticipate that he will be there. If I go, I may mention it to him.
Will get a read of that later...be nice if he done a blog on the other one ! atb
Michael Walters posted a blog on his site yesterday evening; he has quite a few followers.
Strong buying again today. 9p achievable today/tomorrow? atb.
You have with respect misunderstood the deal. FAM will issue 108 million shares to the vendors of Bluejay; in return FAM acquires the 40% of Pituffik that it does not already own. The issued share capital of FAM at present is 619 million shares. Once the deal is completed following the general meeting on 10th March the share capital of FAM will increase to 727 million shares. 108 million shares out of 727 million equals just under 15%. For 15% FAM gets 40% of what could prove when the JORC resource is announced a tremendous deal for the shareholders in FAM. What we do not know at this stage is how much of the sands from which is derived the ilmenite will form the JORC resource - time will tell. An adjunct to the deal is that FAM in respect of Pituffik will no longer have a joint venturer in the form of Bluejay for the purposes of structuring deals and it also makes FAM less a target of a takeover. Since the shareholders in Bluejay are in the round directors and shareholders in FAM, there is less temptation for the directors to award themselves tasty options. As far as I am aware the ceo does not give himself a very large salary. Following the December placing and completion of the December 2015 deal, today's announcement was likely to take place at some time; it was a question of timing imo. I am more than satisfied with the deal.
Not seeing the positive here. We are issuing another 100m shares for a £1/2m option to acquire the remainder of BlueJay. Looks to me like we are giving them £8m worth of shares for the privilege.
yip another positive one.Regular updates all the blocks being put in place. JORC due shortly should (all going well) really see some interest gather. Also placing last December at 7p. Can't see much if any downside here. Dara yes I have some Aura as well expecting that to come good in the future.
Positive news. I think the potential here is great but we are so off the radar......
and I hope more to come when we see the JORC resource. And do not forget that Avannaa is still be further explored. cashfornuthin - you have some Aura as well do you not? That is also a compelling story.
Over 8 paid.
If we can break 8p
Sorry I read it as late feb / mid march. atb