Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Likely mid-late March according to Michael Walters
Being noticed..JORC due in a couple of weeks.
Even the government are helping out. Cant say that with many miners !
excellent rns
First the appointment of a salesman last Thursday; today the announcement of a production and distribution expert as COO plus a geologist. The board must have extreme confidence in the resource that it has at its disposal. We will have to wait however a few weeks for the announcement of the JORC. FAM could prove a very sound investment.
Today's rns shows ongoing comittment to the project. Additional costs involved with senior personnel (not specified) but they sound like key individuals who have a serious contribution to make. Onwards and sideways I expect for a while!
Nice to see things are being moved forward at Pituffik. It's a long time coming but the company do seem to be committed to comercialisation here.
nice FinnAust Mining Plc, the AIM and FSE listed company with projects in Greenland & Finland is pleased to announce Greenland Government approval with respect to the acquisition of Avannaa Exploration Limited ('Avannaa' and the 'Acquisition'). Avannaa is an exploration company with advanced projects in southwest Greenland. The Company has also applied for and been granted an additional 28km2 exploration licence covering the Illukunnguaq area adjacent to the existing Avannaa licence areas. Completion of the Acquisition and grant of the additional licence significantly increases FinnAust's land position in Greenland and its long-term project pipeline. The Company already holds a majority interest in the Pituffik Titanium Project ('Pituffik'), which has demonstrated the potential to be a top percentile ilmenite project in terms of heavy mineral grade with the maiden resource expected during February. FinnAust's primary focus remains on delivering a bulk sample during 2017 and larger scale production in 2018.
Completion of a placing raising £8.5m for the evaluation of ilmenite mining at Pituffik in Greenland through the placing of 76,428,572 new shares at 7p and the placing of 45,000,000 existing shares also at 7p. Gross proceeds to the company are £5.35m with a further £3.15m raised to buy FinnAust stock from Western Areas the Australian nickel producer. Western Areas’ stock holding is now 22.85% and remains a supportive shareholder. The placing was significantly oversubscribed demonstrating an increased level of interest in the market for FinnAust and it’s ilmenite project in Greenland. The plan is to deliver a proof-of-concept bulk sample from the Pituffik ilmenite project in 2017 and to deliver a cash flow and dividend paying business with a long-term life span. A new JORC resource is being prepared for publication in Q1 2017 to be followed by completion of feasibility study work in June next year Bulk sampling and sample preparation should enable the testing of concentrate samples next year which may lead to offers to offtake Pituffik material from consumers and traders. FinnAust also has a number of drill ready zinc targets for 2017 with further targets to drill in 2018. The team are also keen to continue to acquire further low cost, high quality assets and to maximise value from their licenses in Finland. Profound climate change has stripped away ice and snow from Greenland through the summer allowing easier access to many metalliferous targets. Pituffik; is a unique mineral sands deposit in the Moriusaq Bay area and Interlak Delta in Greenland. Moriusq Bay shows very high ilmenite grades of around 50% to-date on Active beaches and at up to 90% ilmenite. Drowned beaches at Moriusaq Bay are expected to carry very high grade ilmenite. The Interlak Delta shows +/- 15% ilmenite which is still relatively high grade for an ilmenite resource. FinnAust acquired the Pituffik project through the issue of shares to the vendors of Bluejay Mining. The company also completed the acquisition of Bluejay Mining on the 8th December through the issuance of the deferred consideration of 40,755,885 new shares. Rod McIllree and Greg Kuenzel, directors of FinnAust were among the vendors of Bluejay. Rod McIllree now holds 9.34% and Greg Kuenzel holds 3.78%.
Successful placing to raise £8.5 million...... to progress Pituffik.
shareaction, you are missing the point. If he thinks that the NOMAD was out of order then there are formal reporting mechanisms that can be used. His release of this information was wrong irrespective of the impact on the share price. Of course he has form for this type of thing and the sooner it is brought to a halt the better.
It must have been the “market manipulation” bit of the insider dealing legislation TW objected to when he stuck his neck out with this “rumour” (he will claim) from this city-source. He didn’t like the bullish BUY-recommendation FAM’s nomad had published a few weeks earlier when they must have known about the planned placing. If on the other hand the “rumour” hadn’t been true then TW would have been in a bit of bother and would have had things to explain. No harm done obviously since the shareprice hasn’t moved. Storm in a teacup.
you say - was known about by too many city types......bullshit...how do/could you know this...the price hasn't moved the only reason we know about it is because TW thinks its place to tell everyone. well it aint and he better watch his step because he should be prosecuted by the FCA newsflash TW, capital raisings for growth companies is normal f*cking business you pillock
unlawful disclosure of inside information....page one, paragraph one of the MARS rules
these ones numb nuts - source FCA website Application of MAR The prohibitions of insider dealing and unlawful disclosure of inside information, and market manipulation, apply to: financial instruments admitted to trading on a regulated market or for which a request for admission to trading on a regulated market has been made financial instruments traded on a multilateral trading facility (MTF), admitted to trading on an MTF, or for which a request for admission to trading on an MTF has been made financial instruments traded on an organised trading facility (OTF) financial instruments not covered by point (a), (b) or (c), the price or value of which depends on or has an effect on the price or value of a financial instrument referred to in those points, including, but not limited to, credit default swaps and contracts for difference
“surely that breaks a few laws” ?? Which laws then? Has he traded with insider info? This planned placing was obviously known by far too many city people so the only correct thing was for FAM to make it public knowledge, which they have now reluctantly done in their latest RNS. What is wrong with that?
agreed. best thing FAM can do is record everything he says/posts, and follow the proper route with authorities when the time comes. No point engaging him directly, it only feeds the troll.
you are f$%king kidding me...how can this arse be able to leak confidential info about a placement surely that breaks a few laws.....what an A class
Apparently not! Back in the red today.............
Siofers. It appears you are not very well read with regard to this share. Do you remember when it was Centurian Resources? Do you remember suspension, name changes, consolidation?Hmmm.
What a performance in a Year!!!! Nov 20th share price 0.50 Nov 11th share price 8.00 Well done, that means very well manage by the new Team. Unfortunately, my average it's very, but really very higher. Good luck to all here, brilliant future ahead and may be I'll see my money back in 3 years. Obelix
it can not be true.... because fam never been so high.. it just break all time highs...
Finally back in the blue here after 2.5 years!! Only by a few quid, but never-the-less it is blue. Will it stay there is the big question!
Interesting that FAM is holding up well recently, - the possibility of infrastructure projects that need TiO2 pigments for painting will encourage plants to stay open in the US. Hopefully before year end we will have more news on our studies ( Met Ocean, Environment, Dredging & JORC) plus the Possibility that if these are positive we can apply for exploitation. It also gives the stronger possibilities for our Disko & kangerluasak projects becoming very much in focus especially if the US spends more on infrastructure. A couple of exciting projects yet to be priced into FAM imho. Do Research this, it's a good company imho. R.