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Best of luck with the investment but expect the share price to fall further before it improves
Sorry I disagree with the placing idea I feel sure Sir Mick would not want to dilute the company and his holding, I think it is world events with Kazakhstan having such a long land border with Russia and being caught in the middle not being 100% behind Russia or 100% western it is creating uncertainty in the area which the markets do not like.
All we can do is like I am sure Sir Mick is doing keep our heads down and hope that for the whole world that this situation sorts it self out soon which is not looking likely at the moment.
Its clear there's a placing coming, I was thinking it was going to be at 15p but that has clearly been blown out of the water, now likely to be 10p
Day after Day down I am a strong believer in Sir Mick and what he can achieve, with the world events going on out of his control each day I am finding it harder and harder to keep the faith.
Have you read the final results?.
Please see below statement from final results.
'The Balasausqandiq project is a much larger contributor to the Group's value than current operations and is primarily dependent on long term vanadium prices.
The project is also dependent on raising finance to meet capital costs anticipated to amount to in excess of US$100m for the first phase. Raising this money will be dependent on the successful outcome of the western bankable feasibility study which is ongoing. The favourable financial and other characteristics of the project determined by studies so far completed give the Directors confidence that the outcome of the study will be successful. Initial discussions with the providers of finance, including with the Development Bank of Kazakhstan for which our project has passed through initial screening, have been encouraging.'
"Why your comparing cash cost is beyond me, your comparing raisins to apples!"
It's for the vanadium deposit, not the processing plant! You don't seem to care where projects sit between eachother on a cost curve.
"You are going to need 100s yes 100s of millions of dollars to get to production, you still need to do PFS, DFS, and then BFS. This cost alone 10s millions."
You read up on current production, kudos to you, but if you read up on how the feasability study is being progressed then you would know this is not the case as funding should be sought back half of next year if timelines are kept and the mine is going to be built incrementally via. cashflow producing modules, so no funding needed won't be 100s of M$. If you think that is wrong then perhaps you should be on the competent persons report, then you would have some credibility and not be seen as just another troll attempting a beatdown on something your obviously not invested in, with nothing constructive to add.
Talk about number manipulation!
What's the capacity plate rating of your PILOT plant!!!??
Production last year FAR 270Tons vs BMN 3600!!!
You are going to need 100s yes 100s of millions of dollars to get to production, you still need to do PFS, DFS, and then BFS. This cost alone 10s millions.
Why your comparing cash cost is beyond me, your comparing raisins to apples!
Thanks for posting this, think I will stay away from this for now.
What was the placing price? I'm considering buying in but the chart doesn't look like it's bottomed yet
Looked BMN this morning as it seems FAR has been recently following it down. As stated in the RNS about capital developement, for 150M$ can increase production by 50% and reduce costs by 20% to around the 22$ per kg mark for ferro vanadium.
So, it's a competent persons report but at 2.40$/lb for V205, FAR could make 5.28$ per kg (before byproducts), so for less money and using current spot pricing we have a cash cost of 1/4 the sales price vs just under 2/3 at BMN.
So, with the coming production glut in the vanadium market from all the projects around (Vanadium is more common than copper) and cost inflations due to higher energy expense I see only the cheapest producers are either going to remain solvent or get project funding.
In my view, in the short term this could drop back to placing price, leaving me quite underwater and feeling I bought too early, but medium term, now the company should have the money coming in to fund all the test work etc. and start looking pretty compelling again after the coming recession because steel demand should pick back up me thinks.........
Don't think the board will care until they start looking for funding again......
I find the pr of this company is rubbish, never any updates or information on anything, the sp will just keep falling off the face of the earth with no buys and just people selling and moving away!!
Disappointed
We could be nervous as Putin did say a veiled threat towards Kazakhstan
However read this…
https://www.google.com/amp/s/m.jpost.com/opinion/article-709316/amp
After reading the press re the Presidents meeting with Putin I think I can now maybe see the reason for the 10% drop.
As having a large holding by my scale of things it has started to make me a bit nervous should I/we shareholders be nervous ?
I will be adding next week - getting to an average of 12p is incredible with no change in the potential - I still reflect back to the original plan and Sir Mick joining the team - hold on and top up when you can imo - this is the retirement fund!!
A few weeks old but worth another watch.
https://youtu.be/-uQHnBTfjWo
This is a gift at these levels holding 400k shs target 500k hoping to top up before any drilling results due are announced.
It's panic selling.
Experienced that before with AngloAmerican. I bought for 1,105 p in April 2015. Anglo had hugh debts because of their delayed and costly new giant Minas-Rio iron mine in Brazil. And the steel price was at a bottom, market in oversupply for the foreseeable future. There was fear of Anglo going bancrupt. But I wanted to take the risk. Anglo had been around 3000 in 2010/11 and also 2007/08. I just had to wait for the next commodity cycle. In September I doubled down at 550p. - tremendous upside potential.
Well by January 2016 investors had completely bunked Anglo as doomed, the sp was down to 277 - less than 10% of its value in a strong market. Regrettably I also lost my nerves and sold out.
Soon afterwards the Anglo's cost cutting plan finally began to bear fruits with reduced losses. By mid September Anglo's sp was back at 1000p, and improving.
It never fell much back and climbed to 1700 in 2017.
My lesson was: "The stock market is a device for transferring money from the impatient to the patient", as Warren Buffet says, let's add from the fearful, from the ill informed to the well informed, the experienced.
I can see even 10p coming. But the deposit is still world class with unmatched low cost profile. The company is on track to become profitable, slowly but still clearly on track. Nothing happens overnight in mining.
And Mick Davis knows all about these cycles in the stock market and commodity market. So I am confident VB will continue to back FAR even at a sp under 10p. So financing will finally come. - I will hold my remaing 59,000 at these prices. And if we really go down to 10p I will add another 5,000.
bloody hell - what happened here!!! Im a believer but this is hard to take!!! this is Sir Mick for goodness sake!!
This price drop/drifting down is getting silly now.
I don't think that anything else has four stable oxidation states and so vanadium cannot be mimicked as such. Of course there are other battery technologies, other flow batteries and other redox flow batteries.
https://www.youtube.com/watch?v=cR0mh5UpVZg
https://en.wikipedia.org/wiki/Flow_battery#Other_Redox_Flow_Battery_chemistries
I was told by someone that it’s only copper that cannot be replicated. Are there plans by others to try and synthesise and produce a material that mimics Vanadium?
I am a FAR investor holding approx 40,000 shares.
Plenty of time to invest in rockhopper as I expect navitas will wait to see revenue from their Canadian field before investing in the Falklands but has just done a capital raise with shareholders able to participate and get some warrants ....
Can't remember where exactly I heard about the nickel processing plant, think was mentioned in the proactive investors interview.
Morning headder, it's Talga (ASX).
And I will check Rockhopper.
One question back to you: Where did you find that nickel production from stockpiles starts in September?
Cheers, hg
Was the other opportunity rockhopper hg64?