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I should add that I sold this relatively small part of my holdings only because I am out of free funds and felt the need to readjust my investments.
That's probably the main reason for FAR falling with the rest of the market. Those who are all in need to sell some. Those who held back cash wisely can buy now at bargain prices.
Bankable Feasibility Study to be completed by mid 2023. Until then the focus is on turning the existing operations profitable. In the 2021 Final Report they announced that they are now profitable after several upgrades have been implemented, however this has still to be proven. In the current environment supply issues would not surprise me. We probably have to wait until the half year report due in September.
Instead of buying more I sold 20% of my position to invest where I see an opportunity for faster project development. But I hold on to the rest. It doesn't make sense selling more at my current 44% loss, because the price might be back at 25p in October if they really turn profitable, who knows.
60% down now with no real confidence to add more or lower my average, any info of short to mid gains here?
Feels very contrarian being invested here. Anyway, here's some food for thought; https://uk.finance.yahoo.com/quote/LGO?p=LGO&.tsrc=fin-srch
Largo, the worlds highest grade magnetite vanadium producer making in excess of 10k tons a year is raising operating costs from $3.20-$4.20 to $3.90-$4.30 for the remainder of the year due to cost inflations and a strong Brazillian dollar.
Some angry protester was on the bbc news outside a polling station and saying that the whole voting system was a scam or something. Russia was also mentioned as something of a 'saviour' of the Kaz Govt.
The BBC is an independantly funded, trusted media outlet and it's news is full of balanced and unbiased content. Here is the other side of the stick here if you care to read it and don't think the website should be banned;
https://www.euractiv.com/section/central-asia/news/kazakhstans-constitutional-referendum-explained/
Yep - read back over all the research and Sir Micks plans yesterday - big hopes for this share and cant see anything to alter that - staying for the long term - well 78p at least - !!
Boredom? Impatient pi’s it’s the long run with this one! Delays in the survey ? I’m down considerably here but long and strong
Chat is mighty quiet here - don't understand the price drop as all plans are clear and being actioned and relationships are good - have I missed something ?
and the company is operating at a profit, which it can reinvest
In his post on 1st Feb 2022 GloucesterR wrote that he got a satisfying answer from FAR on his email inquiry on the progress. However GloucesterR posted on 02 March that he sold out mainly because of his concerns about the war.
Has anybody ever had contact with Ferro. I've now contacted them through their website and never had any reply, very disappointing since I hold quite a number of shares?
Cant see any issues here - longer term hold with plenty of potential - Sir Mick has a clear plan with funds - 78p is the target for me
There’s a cash call coming in H2, 15p is my reckoning
My guess is lack of short term news combined with the war in Ukraine. This is a 1.5 year hood atleast until the BFS comes out Q3 next year. We all know the potential here, just have to switch off for a while for a 5-10 bagger.
What do we think is behind the steady price deflation? Buying opportunity or a sign of things to come?
It's good to dream but in reality we Pi's will be bought out for pennies by either the Big Boys making a compulsory offer or by nationalisation, so enjoy the ride this year.
not that I believe that particularly but, id be happy with £2.7m holding value in 2027 which is why even though im 40% down today I'm a 5-10 year hold here. Head down and waiting
£9.18 sp by 2027!! Happy days!!
Here’s your chance to bring that average down
RNS confirms No problems all going to plan just the study has been back in the time scale of things patience required as us long term investors have always known, so on with the day job and let them get on with theirs to provide the strong profitable company in the coming months/years that we know is coming.
first year of a 10 year hold for me. Ill judge it after 3,5 and 10. Just wish id accumulated better as my average is 38
This for me is key:
Improved outlook for 2022
o Third roasting oven increased capacity by 50%
o Group already operating profitably
o Nickel recovery project will increase revenues from each tonne treated with no additional raw material costs
The second two points should increase the level of profitability
Mixed bag because of delay to FS but some of that is due to reviewing for additional valuable deposits
Will take profitably with a pinch of salt .It probably is very little .
Cash -$7m spent in 6 months ,upto end of December 21, 4 months ago .
So with further infil drilling and study pushed back until mid next year , again at the earliest .
I think Co will need more cash .
Operations are now profitable so cash isn't an issue at least, it's a long wait for the study now but any fears of dilution or political risks should be put to rest now.