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Started: Claws75, 15 Jun 2024 15:01
Last post: Claws75, 15 Jun 2024 15:01
Https://m.miningweekly.com/article/nextsource-inks-91m-mandate-letter-to-fund-madagascar-graphite-expansion-2024-06-13
Sir mick Davis is the chairman or nextsource
Started: driver101, 6 Jun 2024 17:00
Last post: whatwhatkid, 7 Jun 2024 13:45
Eua showing what can happen to this stock
Going to be ups and downs yet, up when the report comes out (I hope!), then a lag till funding ) construction started in earnest, then another lag till production ramped up, gotta have a lot of patience with this one, and I'm only here for 8 months so far!
This is creeping up on very small volumes, up about 80% from its lows, without many noticing. Still a way to go to reach my average.
Started: whatwhatkid, 5 Jun 2024 08:08
Last post: whatwhatkid, 5 Jun 2024 08:08
Showing life
Started: whatwhatkid, 31 May 2024 15:07
Last post: whatwhatkid, 31 May 2024 15:07
Buys finally
Started: whatwhatkid, 28 May 2024 08:24
Last post: whatwhatkid, 28 May 2024 08:24
Definition of a lock away and revisit share
Started: Claws75, 9 May 2024 14:26
Last post: Claws75, 9 May 2024 14:26
Started: whatwhatkid, 29 Apr 2024 21:00
Last post: HG64, 8 May 2024 09:56
Hi Justanotherbot,
looks like you are quoting me from one year ago.
Well, at least Nick has said in a credible way that they made comprehensive efforts to address the supply issues.
But I had another look at the operating costs and the G&A expenses compared to the revenue even in the best quarter last year: not profitable - and even less chance of profitability at the current low vanadium prices. I'd be happy if the next half year numbers prove me wrong.
But I am holding on to this because the Feasibilty Study is due this year, and with it there is hope of progress with the mine. According to the PFS when constructed it will make money even at very low vanadium prices. It may cost more than the originally planned $100 million, just lets hope Nick doesn't want to make the mine as sophisticated as his byproduct studies but keeps it simple and cheap.
Hg64 - gets the comment of the day for the FAR board - last two paragraphs are a check mate. Nicky boy needs to get himself together and make this plant profitable.
"So my guess for the end of 2023 is anywhere between the current s/p and 25p.
My reasons:
With delays due to supply chain issues FAR still has steadily modernised the current production as planned, so I am confident the final modernisation step, the nickel processing facility, will be completed in Q1/23.
But I doubt they can reach their production and profit goals. In the interim report Sept 15th they explained poor financial performance with
- logistical issues due to the war,
- “increased trade debtor balances” (i.e. buyers didn’t pay yet) while the company paid for the purchased material in cash “in order to secure a flow of concentrates”,
- “loss payable provision … with respect to product sales that have suffered negative market price movements”
So my guess is 2023 will not be a loss making year but a year of continued hope to improve profitability. At least the improved operations will keep the company afloat without need for further cash raises, and that will keep the share price from falling further."
Totally agree, this business model of buying material to process has proven so unprofitable for various reasons, like not enough material delivered (production at 30%), bought in too expensive and sold end product at a loss after vanadium price drop, producing for 2 years on expensive diesel before finally swapping to natural gas, transport issues...
And after 3 years still didn't buy a used excavator, dumptruck, caterpillar shovel and a grinder to start getting their stuff out of the ground.
Instead Nick spends money on studies how to sell a byproduct of the future mine to the tyre industry, hopefully.
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
Good enough for me to buy in today.
FAR’s compelling investment case, said the broker, which has a risked fair value estimate of 33p.
This actually went from 11p to 42p in March - April in 2021,
Started: whatwhatkid, 7 May 2024 15:16
Last post: whatwhatkid, 7 May 2024 15:16
Let’s go
Amazing how much it moves on small volume. If any big buys came in this would fly
Small amount of buying and this moves!
Life in the old girl yet!? Looks like news inbound?
Full ask paid....almost
Balasausqandiq is a best-in-class vanadium deposit with significant by-product credits capable of generating negative costs of production that underpin FAR’s compelling investment case, said the broker, which has a risked fair value estimate of 33p.
Started: whatwhatkid, 1 May 2024 18:07
Last post: whatwhatkid, 1 May 2024 18:07
Come on
Started: kidsandcastles, 1 May 2024 10:07
Last post: Matsa, 1 May 2024 17:25
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
Started: Grandalusia, 26 Apr 2024 07:28
Last post: Openthebox, 29 Apr 2024 09:03
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.
Started: Showmethemonet, 20 Apr 2024 08:36
Last post: Showmethemonet, 20 Apr 2024 08:36
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?
Started: BrightShinyDay, 10 Apr 2024 09:37
Last post: BrightShinyDay, 10 Apr 2024 09:38
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!!
Started: Showmethemonet, 26 Mar 2024 06:50
Last post: bemmacolli1, 26 Mar 2024 14:42
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!
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!!
So cash position should be good
Bod need to get this flipping feasibility over the line then get the f’ on with it, dig the stuff out of the ground so everyone can finally make some money! Simples! Let go let go
In fact get me on the bod!
huge potential
very poor at meeting there own milestones
a diminishing value currently for vanadium
but it’s all cyclical
personally i’m 80% down hold a **** ton of this
hold on the back burner and occasionally pick up a few on the cheep
disappointment for 3 years
Any more insights here - seeing plenty of buys and had a top up!
Started: Showmethemonet, 13 Jan 2024 08:53
Last post: bemmacolli1, 1 Feb 2024 08:38
Seemingly a strong update
I’d like some dates around next steps and target dates for mine start and operational commencement?!
Don't know about news obviously, but I'm not expecting the full year figures to be very good, they've bought in a lot of material to process, but it sounds like it was not top quality, and resale / profit levels might be low until the (expected) up-tick in the world economy which might be in 12 months 🤷🏻♂️ Maybe when the long awaited report comes in there will be a bounce back. I'm lucky in that I'm holding at 9.5, so while it looks poor this is a long term punt for my retirement and I'm adding a few more as funds become available (Tax bill to pay this month 🙄) so paper losses aren't a concern. Also the company announcements can be contradictory or unreliable, which doesn't inspire confidence until there's solid results.
Another big sell 850k or £49k ouch bad news on its way?! I hope not
Oookay..... 15-Jan-24 14:00:07 5.70 543,304 Sell* 30.97k 0_0
Https://www.ajbell.co.uk/articles/latestnews/270740/ferro-alloy-resources-concentrate-processing-figures-rise-2023
Also what’s happened to the company website? They must be updating it maybe?
Started: Showmethemonet, 1 Jan 2024 08:21
Last post: headder, 1 Jan 2024 10:26
I hope your right; https://vanadiumprice.com/ Vanadium price seems to have flatlined now, worryingly while the steel price has been rising! https://tradingeconomics.com/commodity/steel
Given the lower spot price and the current, forward purchased ore, will be sold at a loss and the fact the fesability study keeps getting delayed could mean that there are some difficult problems to overcome to meet economic targets, where we don't know what effect the extra vanadium supply will have on the market and how profitable the plant will be going forward, ie -> can it afford to pay off the bonds at redemption?, I personally am not willing to re-invest until more is known, hopefully in the next financial results.
I'm sure MM's will use the low liquidity to bid the price back to 9p though......
Well another year goes by and it’s been, by the end of the year, a challenging time to hold this share.
A very sincere message to all especially those who are shareholders like me: good luck.
That feasibility study will hopefully not be delayed further and give us some cheer. And with the world economy getter stronger hopefully the price of vanadium will improve too thereby strengthening the company balance sheet.
Vanadium price has dropped.
Out of the 57 trades today, only 27 of them are over £100. Plenty of pennies and a couple of pound buys.
Expect it back to lows in due course and VB to renegotiate.
Had to go out today and missed this fab top up opportunity - just shows the strength of this share!!
There needs to be some accountability as they keep missing targets and deadlines
Same here Bem - way down, still believe the project has great potential and wish I was buying in at these prices!!
Looks to me that the liquidity hasn't arrived yet for anyone wishing to exit. Which means I am in no rush to add. Thought I caught the bottom before but things seem to get worse. Maybe waiting for some accounts would be a better strategy. To see the write downs & whether the cash covers expenses?
Bottom is lower than this for sure....
Makes you wonder if VB will renegotiate terms now due to weakness of sp
In uncharted territory now, no one knows where the bottom is
My buy target, lets see if it will get there