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From the last feasibility study produced the cost of building mine was around 100 million which is cheap for a project of such high NPV. So once the feasibility is out and as long as the economics haven't shifted too much we will have a very attractive mining prospect.
I agree that we need a more dynamic leader to run this ship. Sir Mick hopefully gets that role.
Good luck
They can't just dig it out if the ground, they still have to fund and build a major processing operation infrastructure, that's going to cost a very big wedge of cash, they will will need a full feasibility study to attract the extra funding.
Come on
They should hire a proper CEO to run company. Nick Bridgen should fire himself.
Is the price increase a small rerating after the report still only have a market cap of £25m, no idea what a good feasibility study would do to the market cap I know will still be in the ground but like oil they should have a good reserves ready to extract
Feasibility, there’s stuff in the ground… dig it out process and sell… can’t believe they are still buying in unprocessed ore?! but im no expert!
Fingers crossed
2023 final results RNS out this morning.
Mixed bag - but what did stand out is vision blue have converted their CLN into ordinary shares, taking their stake of FAR to 23%.
Some results not at levels that were expected, but I think that was a given per the info in previous RNS’s.
Will be averaging down when possible.
Random RNS didn’t tell us anything
160% increase in pentoxide but still only 81T. Very small operation that doesn't seem to be growing.
Hello all, a few days ago I was listening to the radio about the AIM index and how quite a few companies are delisting from that index. On this program, A CEO of a UK biotech firm was bemoaning valuations and how his company had reached important milestones yet the share price had hardly moved. This firm has delisted from AIM and is now listing in the US.
This concerns me for FAR. If FAR does reach important milestones: the feasibility study confirms what we expect, if the price of vanadium goes up, if the company starts to post good balance sheet figures, but yet the share price only goes to say 50p, then could we see a delisting? Vision Blue understands the Canadian market.
I know of course that FAR are not listed on AIM but they are listed on the main market so there should be more money there but big companies like ARM have dismissed the FTSE and headed to the US.
What are your thoughts on this?
Sorry - I meant to say that I have 'no particular expertise....' .... doh!
Long term holder (now down 60+%), so can feel the general pain. I have particular expertise but after a few years of following this one I had a few thoughts on what is moving this down:
1) Putin. From an increase in direct costs to the business, to an increase in 'risk' the invasion of Ukraine has knocked Central Asian stocks across the board. I am convinced that if the war end FAR would jump 30-40% in a day.
2) The Feasibility Study. We are all here for the Big Project and any delay or increase in cost hits us hard. We just have to hope/pray they get it done on the revised timetable which I think late 2024.
3) The Price of Vanadium. Vandadium prices have crashed over the last two years which I think is due to the economic weakness of China (who buys the V to make steel with). With a low price end product the company is just valued less. And you can see this in the price of the competition too (such as Bushveld) which has bombed this last 12months. In the absence of substantive news it is the price of V which is killing us.
I am still relatively hopeful on FAR, the potential is great and Sir Mick has a good track record. But obviously, until China's economy recovers V pricing will be depressed regardless of anything else. However, if FAR can get the feasibility project over the line and it is positive then I still think this one will 5x within 3-5 years. Fingers crossed....
Same here Bemma - Sir Mick was the reason for me jumping in - too much with hindsight but the plan made sense. Fingers crossed we get this project moving - I still have high hopes!!
I stupidly went big on far looking to BV connection as my justification
The sp drop is very concerning
However it was alway a long term play
We need a positive q3 feasibility update and a rock solid plan to progress phase one
Time for the bod to step up big time!
A few of us on this board have highlighted the significance of Vision Blue’s investment in FAR. I’m sure there’s a few of us too who have also invested in Cornish Metals. I am one of these investors. I have also invested in Anglesey Mining too. Let’s see what happens. But remember, if Sir MIck suddenly disinvests then we are all in serious trouble. He has the financial resources to take that hit. Do you? Do we?
Thank you for your thoughts. Let's hope for an uptick soon. Possibly a time to average down..
Can't see anything on any platform or in news, and unless there's something coming in the next earnings update that's bad, though can't imagine what other than a bit less profitably. I'm assuming people are getting fed up and don't want to wait till Q4 for the reserves report to come out, then maybe another year or three untill things get rolling properly 🤷🏻♂️ I'm a lucky latecomer in at 0.065 so am happy to let it sit there for a couple of years and see, feeling for those who bought in the excitement before all the delays settled in. I'm only holding because of various invested parties and the fact it's LSE main market, rather than AIM gives me a little confidence there's an intention to develop, not just a lifestyle package for the Directors.
Anybody know any particular reason for today's painful drop? This sp is becoming a little painful
Ouch
Big sell
Bad News inbound? Or someone just got bored of FAR, I know I am! 80% down
Wish I’d just stuck to managed funds all my shares are total 🦃
I’ve been invested for 3 years down alot! It was always a long term one however
my 5 year (2025) and 10 year (2030) targets of 50p and £2 look a long long way off!
I still think of Sir Mick's involvement - very confident it will come good!!!
Could do with a change of luck on this one!
All buys this morning yet a drop in SP, got to be games - watch this space!!