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There is no way Aussie Shareholders are the majority... UK investors have a very large proportion of the shares in FCR
Oiltap- looking at the number of shareholders is very naive, most Aussie holders have very small holdings, looking at the actual proportion of shares is far more representative
Thank you Oiltap. Much appreciate your help :)
Thanks Oiltap for clarifying...where can I check the register ? I want to see if my name is on it :-)
I think it is very clever move and has strategic intent. Big mining companies like Glencore are listed on the JSE and if any buyout occurs then at least their options are open for share swops etc rather than straight sales.....IMO it gives FCR more options by retaining JSE listing. Also I am convinced now with them doing this that most large shareholders of FCR are more than likely resident in SA.
Indeed - it makes no sense? JSE isn’t expensive to run but the ASX and all the regulatory BS is craaap and just gives us more headache when we want to progress!
I wonder why you would bother to appoint a new JSE Sponsor, if the JSE Listing was to be cancelled completely, as I understood it was to be when Moonlight was all shut down, which it has been ? Then again, CB does have interests in several companies with African Assets....................!
All this needs is attention on how good 'The Mine' actually is. Hopefully running up to and after the GM this will rise. Investors will start to take positions.
On the move again
Extract...."Following the completion of the maiden resource estimate for the Toral Project, the Board believes that the asset has the potential scale and grade to be progressed into a full mining project  On completion of the conditional fundraise announced on 21 March 2018, the Company will utilise the net funds to, inter alia, further define the asset and future economics of a mine, with the work programme including: o 8 hole drilling programme along Eastern extension to potentially identify further resource o Preparation of a Preliminary Economic Assessment (�PEA�) to define initial economics on the Toral Project as a developed mine o Metallurgical test work programme to inform the PEA and define saleable concentrate types"
Compliments Wikipedia :)
Metallurgy is a domain of materials science and engineering that studies the physical and chemical behavior of metallic elements, their inter-metallic compounds, and their mixtures, which are called alloys. Metallurgy is used to separate metals from their ore. Metallurgy is also the technology of metals: the way in which science is applied to the production of metals, and the engineering of metal components for usage in products for consumers and manufacturers. The production of metals involves the processing of ores to extract the metal they contain, and the mixture of metals, sometimes with other elements, to produce alloys. Metallurgy is distinguished from the craft of metalworking, although metalworking relies on metallurgy, as medicine relies on medical science, for technical advancement. The science of metallurgy is subdivided into chemical metallurgy and physical metallurgy.
Metallurgy has nothing to do with the category in which the resources is, thats utter nonsense! Saying the met work will move the inferred to indicated is pure BS i'm afraid to say!
Can someone tell me why the previous operator gave up the toral licence and how FCR aquired it and how is it possible they missed near surface mineralisation??
Great....some devine guidance will always help :) The nice thing is he has planned and built Mines.....which makes me think that this will be a mine if he is on board.
23/04/18 07:20:45 News Alert for Ferrum Crescent Ltd NPV (DI) . RNS Number : 7000L Ferrum Crescent Ltd 23 April 2018 23 April 2018 Ferrum Crescent Limited ("FCR", the "Company" or the "Group")(ASX, AIM, JSE: FCR) Appointment of Mining Sense Consultancy FCR, the European lead-zinc explorer, today announces that it has engaged the services of Mining Sense Consulting ("Mining Sense") (www.miningsenseconsulting.com), a Spanish consultancy company to the mining industry, to complement the existing operational team focused on the Toral lead, zinc and silver project, located in the Province of Leon, Spain (the "Toral Project"). Mining Sense's Technical Director, Jesús Montero, will lead the consultancy team dedicated to the Toral Project. Working alongside the Company's existing in-country management, under the direction of Myles Campion, Group Technical Director, Mining Sense will assist with: · Preperation of exploration drilling sites and contracting drilling operators; · Undertaking first desktop study on local area and industrial operations; and · Agreeing Preliminary Economic Assessment (PEA) parameters and schedule for completion The Mining Sense team will be embedded within the operations team at the Toral Project and will work with the Company to pursue its stated objectives of: · Providing a preliminary economical assessment and conceptual mine plan for the Toral Project · Drilling the eastern extension to identify further resources · Assess development pathways for potentially bringing the Toral Project into production Whilst Mining Sense has already begun work for the Company in respect of the Toral Project, agreement on contractual payment terms for the work to the scope set out above is subject to the Company receiving approval for the issue of new ordinary shares in the Company to raise up to £1,000,000 (gross) pursuant to the conditional fundraising announced on 21 March 2018, at the Company's forthcoming general meeting on 21 May 2018. Jesús Montero is a mining engineer, specialising in mine planning and design, with over 15 years industry experience working on exploration to production projects. Mr Montero has been involved in the design and development of two flagship mining projects in Spain; Berkeley Energia's Uranium project in Salamanca and the Cobre Las Cruces Copper Mine near Seville. Over the last five years, Mr Montero has driven the mining studies and initial construction of the Berkeley Energia's Salamanca project as Mining Manager. Following the publication of a Definitive Feasibility Study, the project is now being fast tracked into production, with full construction currently underway. Myles Campion, Group Technical Director, commented today: "We welcome Mining Sense and Mr Montero to the tea
........Lets see what the lad can do.
In answer to your question Newbie, the shs ought to theoretically fall by the full amount of the Placing issue when they go "Ex-Placing" and the shares are actually issued, but, due to inefficiencies within the market, they don't always go the whole way down. It largely comes down to how generous the MM's are feeling at the time and how many T20's are out there for them to shaft !! That's my empirical experience of these things. Also, you have to wonder, with nearly 5 Billion shs then is issue, if there won't be a share Consolidation of some sort ? It has to happen at some point. IMHO. DYOR. GLA.
Apreciate the response and this may be v naive of me in th context of the assets potential worth overall but would the mc not then be 3.3m?
Any one guess, my guess is its a positive, no debt, cash rich for next stages and proving for JV!. Management finally obtained shares, for some a sign of confidence. I wouldn't vote for some of the shares issue to go through, but maybe the 1mill gross is a just what we need. Plus 2.3mill mcap is drop in the ocean once/if everything goes to plan. iA
I don't think thats actually answering my q? My q is simply - is this likely to nose dive either on proper mathematical dilution and/or S/H sentiment etc?
Like you said....If voted General public ownership is 79.6% CB has been told that he cant vote on certain points.
...shares come into existence and what will this do to the SP when it does? Will it immediately average down as such or not? Is it likely to be seen as negative by the market etc?