Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Another great RNS this morning. Perhaps it's time to up my stake here!
I have quite a large holding. The stockmarket has not understood this company and what Pitiffuk really has in its portfolio. I am a former sierra Rutile holder and Iluka have recently bid for that company valuing it at £215 million plus debt which Iluka are taking on. We as private investors thought that was an undervalue. The stockmarket are valuing Pitiffuk and the company's recently acquired assets at under £40 million. I take the view that sands themselves being capable of replenishment could amount to as much as Sierra Rutile have in the ground. A big could at this stage since we do not have the JORC compliant resource yet. But what is staggering is the grades the company is talking about.. A report on the grades from the professionals could be interesting. Unlike Sierra Rutile it appears that FAM do not have to build a mine to extract the sands; thus no debt to build a mine.
Only a tiny amount here Daramuda, 10600.
Thanks Mate, I'm in SAR with 2 mil shares at 0.27p and good news out yesterday (Tuesday) I meant. Also, look at VALIRX (VAL), I believe they will be the next one in line. VAL201 - Prostate Cancer data not final, but some efficacy will be out next few days (I believe) If you've a spare cash, join us there Mate. However, don't forget to do your research first Mate. JC and others, are good with his research there and I believe he's very honest person (not ramp or de-ramp like many over there) Good luck to you Mate, Obelix
and out of interest how many FAM have you got?
Ob, I've been in Solg and Marl for a few years now - watched 'em all the way down and all the way back up again! Pretty pleased there. Very happy with my 88e too - have 1.7m @.56p.......... Summ is also one back in the blue for me and a very exciting future ahead I think. GL wherever you invest!
it is worth studying the company's website and the presentation of 19th September and today's presentation which is a slightly more sophisticated look at the RNS.
It is important imo to study the anticipated grades; some areas east of Interlak +90% ilmenite. If we have a good JORC compliant resource, a satisfactory EIA and then subject to those an exploitation licence (in H1 2017) this could be a very important development. And just think, although not mentioned in today's RNS, no mining costs per se. I already have a large investment in FAM but will try and add as and when going forward.
Morning Goldenegg, When you have time look at SOLOMON GOLD (SOLG) as well Mate, I'm in good profit there. Have a nice day Mate, take care Obelix
Morning Ob. Lets hope so! I'm out all day, so can't be watching the screen today! Might take a peek on the phone of course..............................
Hope everyone here are okay. Another good RNS out and I believe We will see a 52 weeks higher today. Have a nice day all, Obelix
Good obs Daramuda. I've been here a long time (@7.55) but with a tiny holding compared to yours. Never really felt I should sell up in spite of the appalling drift in the sp last year, and never had enough confidence in them to top up when the price was way, way down! Comfortable with where we are heading now though, so good luck to all.
I myself added on reading the results. In simplistic terms it seems to me that Pituffik offers sands which, subject to metallurgy testing, could contain a very high grade of titanium. Not only that, the deposits cover a large area of beach and into the shallows and if dredged they will be replenished as the glaciers melt in the spring. It further appears that the company does not intend to spend money building a mine in the conventional sense; instead the plan appears to be to dredge the sand and take it by boat for processing once the company obtains permission to exploit from the government. The subject area is near a deep water port. What I am "dreaming" is that after a permit is granted and the ice thaws, the company will hire boats/ships which will be used to hoover (so to speak) the sand from the shallows/beaches. No mining costs as such. So what remains to be done. Whether we will get a separate metallurgic report dealing with purity I do not know but the ceo has already flagged a JORC compliant resource report by the year end. We will then know how the experts measure the longevity of the resource for JORC purposes and persons better versed than me can put a value on the resource. The rest imo will roll from there including the application to the government for an exploitation permit after the company has obtained the Environmental report; that is in hand. I do not see much opposition from the local population which is some way away and I cannot see any harm coming to the walrus population nor the narwhals. The company's website is good and there is a great deal of historical information in the public domain. For my part I had 350,000 Sierra Rutile which is the subject of an agreed offer. I have sold all bar 50,000 since I have invested elsewhere but I have invested over £45,000 in FAM and consider the price has further to go. The offer for SRX valued the company at £215 million. It does have a large resource of sands bearing rutile but there are large costs in building mines and also a large workforce to employ. Further Sierra Leone has suffered from civil unrest in the past and more recently was in the thick of the Ebola outbreak although the workforce of SRX was unaffected due to steps taken by the company. It would be nice to see Pituffik valued at £215 million but we are early days. e,g, we do not know the JORC compliant resource yet nor has the company an environment certificate or exploitation permit as yet. However there is every chance the value could well exceed the current attributable value and do not forget the company has just acquired two excellent assets upon which tens of millions have already been spent by Cairn Energy. Get Pituffik producing, cash coming in and those assets could be exploited. A lot to look forward to imo but as ever DYOR
Final results RNS and not a single comment today! Says it all really. Will take some kind of blockbuster news to liven things up. Personally, I'll be happy to see a continued few percent a week increase in the sp until the end of the year..............
Some fairly chunky buys going through this week. Wonder if that's what's driving the SP? Maybe someone knows something!
Golden, looks like We're in the same boat Mate. SOLG it's good, VAL (I hope to turn to good this month), PXOG (good choice now) and others. It's really annoying to be honest Mate, We trust what they are saying and then We crash.... lol I really sure FAM will be good Mate....
Unfortunately I hold too many AIM dogs! Have some good ones though. Pinning my hopes on 88e, MARL, and SOLG for salvation! REM has great potential but has been such a disappointment drifting down when the companies it is invested in go up and up. I can't get my head around it!
It's true Goldenegg, the new BOD have been really good about PR and very informative. Like I said before, I was unlucky that time, but seems to be a good investment now. My money is in VAL, SAR, PXOG, SOLG and others, but soon I made any profit I'll average down here. Good luck to you Mate & all here. Obelix
Hi Obelix. We can't complain about lack of news flow. Just wish I'd had the forsight and confidence to average down back in January but I did not. Had pretty much written them off and put them in the bottom draw. Hey ho. Having been under water for so long the problem now is knowing how long to hold after breaking even! Perhaps just let them run with a trailing stop on.
Another positive news out today, but unfortunately, my average here it's too higher due the dishonest previous BOD. Good luck to all here and I hope the company progress continue. Obelix
At this rate I could break even by the end of the week!
Or even a few percent a day...................
The downside is it's 12 bagged already this year............
This stock is hardly on fire but if it keeps edging up a few % per week I'll be happy.
At least it's hit a 12 month high. Slow and steady please!