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Why is the price so low for a company with amazeing
Results, just scratching my head here .
Trader’s Cafe with @ZaksTradersCafe Stocks For 2023: Countdown 10 to 6
10) Firering #FRG 8.5p Target 25p
9) Galileo Resources #GLR 1.3p Target 2.5p
8) URA Holdings #URA 1.35p Target 3p
7) Emmerson #EML 5p Target 15p
6) Lifesafe #LIFS 48p Target 100p
https://twitter.com/Share_Talk/status/1608759630569836546?s=20
In the case of Firering, the company knocked the ball out of the park with its November update in which it revealed 64m, grading 1.24% Li2O, what it described as “exceptional and amongst the best intercepts recently reported by our global peers.” This should have been enough to deliver a significant re-rate for the shares, and it did until this month’s final set of results from the Atex Project of 25m @ 1.39% Li2O. Perhaps it was because this was revealed just before Christmas, but the market gave a rather curmudgeonly response second time around. However,
https://www.share-talk.com/traders-cafe-with-zak-mir-stocks-for-2023-countdown-10-to-6/
https://total-market-solutions.com/2022/12/12-mining-companies-to-follow-in-2023/
At this stage we don't know he is totally done selling as still has a decent batch in his holdings, however in this tranche he has done for now.
In terms of the project. The Assays were interesting. On the one hand great news to have proved beyond doubt Lith in Spod Hill, considering Firering's initial IPO was based on being a Tantalum play with abit of potential Lith attached, its a great result to prove up some Lith.
On the other hand, all of the other holes surrounding it which had visible Peg came back via assays as not enough Lith contained within to be commercially viable.
So we have a find, but also not as large as some might have hoped at this stage.
This is backed up by the revert to doing new soil samples within the wider area. If all of the drills had come back successful its likely new drills would have focused on this area straight away to infill and build a potential resource.
Talking of resource, until an MRE comes out maybe towards Q3 area 23, we won't know resources in the ground quantified, however I did see another comment saying 20Mt is the min target. Just as a correction there hasn't been any notes from the company to suggest 20 mt is the min target. There is a clause in the Ricca deal that "IF" they hit 20 mt then Ricca could pay an additional add on amount. However, that is def not a statement of min amount likely.
In terms of value here, the funding via Ricca isn't likely to be taken as a direct asset increase as the cash is to be used to drill etc, not just sit in the bank. Thus while the cash in itself might prove up more resources which add value, the drills also might not find anything new. I don't think its wise to add the funding amount to the companies books as though it will stay there. It will be spent. That's its purpose (if Ricca continue to take up each stage).
The above prob sounds negative. Its not intended to be, more just an attempt to highlight some incorrect statements of late.
As a holder here I believe Firering has a great chance to provide me with a decent return so I am positive on its future. If Ricca continues to take up each funding stage, as a company we have very little reason to dilute via equity raises over the next few years. That is a very strong position for such a new and small company to be in.
It may not be the most exciting ride as newsflow will be spaced out as samples and drills and assays always have dull months in them, but when the news does come, each bit will help us see the bigger picture unfold here and that excites me.
Guessing Brendan was expecting a resource drill out unfortunately this hasn't happened due to the lack of mineralisation around Spodumene Hill. It looks as if he's taken his risk off the table.
Seller done! ( Brendan Borg ) shifted 1½%
Back to a conventional exploration play, hole 18/19 came up with decent mineralisation however we need a lot more of this to make it a going concern, Spodumene hill looks limited going by the last announcement (most holes ended in no mineralisation) this is backed up by a massive area of soil sampling in early 2023 before the next round of drillng.
Agreed, great value in a hot sector. Massively derisked by the funding and the exceptional grades. I added today at a great price. Thanks seller.
FRG 1.6m cash in bank , funding for 19m cash to advance the asset , which is a cash position of 20.6m and Mcap of 7m #lithium asset valued at minus 13m good pullback from 16.5 now 8.5to buy drill results excellent, massively undervalued ,no placing needs, hot sector #2023
My top up today is now in profit by a total of £3.......lol!
FRG dropped before 7 months ago from 11p to 9.5p....although over 5 days....not all at once!
Since then we have had an investment from RICCA $1m up front and another $18m (possibly $20.6m) odd to come and results including one exceptional intercept of 64m Intercept @ 1.24% Li2O in hole TVDD0004 announced last month, which ranked among the world's top five drill hits in October. Further continuity reported today25m at 1.39% Li2O from 77m in hole TVDD0018, and a nice report on the expected holes with no significant showings (most companies don't mention these).
The talk is of a DFS target of at least 20mt and we retain 50% (of the current 77% Atex Project) ..........and pray tell me why we are worth 30% less than when we floated a year ago?????????????????????????????????
Top up time?
Excellent news. High Li grades. Going well.
Looks like decent progress to me. Carry on….
More positive assays out. Cracking on with further exploration/soil sampling in January.
a modest position with FRG as taken profit at ALK over last weeks.
So much points to those at the source of the stream retaining their sellers' market for the foreseeable that even very early stage explorers could have exceptional upside. The positive involvement of ALLers I also value.
AIMO.
Morning.
on the technical analysis FRG looks very good
Shareholders
Number of AIM securities in issue: 88,043,560
There are no shares held in treasury
Percentage of shares not in public hands: 41.1%
Updated: 1 November 2022
Significant Shareholders
Shareholder
Number of Shares
% of Issued Share Capital
Mr. Youval Rasin
12,610,000
14.51%
Rompartner Limited
9,000,000
10.36%
Mr. Sebastian Marr
8,211,104
9.45%
Mr. Yehoshua Shai Kol
6,990,000
8.05%
Oberon Investments Limited
5,025,952
5.78%
Mr. Lincoln Moore
2,976,000
3.43%
Mr. Brendan Borg
2,675,000
3.04%
Litlte top up for me first thing morning with 9200 shares - showing as sell as are all other at same price i got mine.
Interesting, I get a quote to buy at the bid price.
Great assets. Lithium etc.
Artykul25 listopada 2022 14:45
Ile wyemitowanych akcji imo nie jest glównym pozytywem, w rzeczywistosci jest nieistotne w porównaniu z ekonomia projektu.
Pozytywne dla RFN jest to, ze fundusze Ricca pochodza z tej samej lub podobnej bazy BoD…
Odwrotne przejecie tutaj jest na karcie po osiagnieciu MRE, Ricca ma pozwolenia licencyjne na kolejne 2 obszary na Wybrzezu Kosci Sloniowej, które zostaly odziedziczone po wszystkich, polaczenie kamienic potencjalnie stworzyloby ogromny projekt w okolicy.
Na razie biorac pod uwage, ze RFN jest bogata w gotówke, to tylko kwestia przyspieszenia wiercen i ewentualnie rezygnacji z planów koltanowo-tantalowo-niobowych do DFS.
How many share issued imo is not the main positive, indeed is irrelevant compared to the economics of the project.
The positive for FRG is that Ricca funds are coming from the same or similar BoD base...
A reverse take over here is on the card once reached MRE, Ricca has license permits for another 2 areas in Cote D'Ivoire been inherited from All, joining the tenements potentially would create a massive project in the area.
For now, considering that FRG is cash rich is only a matter to speed up drillings and possibly abandon the Coltan-Tantalum-Niobium plans till DFS.
Someone look at these trades and tell me how this isn’t being manipulated
yep. prem started with under 500 million shares. now look. dilution here will be minimal
Cheers Eye Guy. Appreciated.
A big one for me is that fact it currently only has 88 Mil shares in issue. Now that might change of course, but thats a very low number compared to our regional Lithium exploring counterparts who are up in the 15 billion shares plus region.
Now shares in issue isn't everything but it is also telling about how a company funds itself. If you got over 1 billion, high chance the company has a go to method of calling on investors to fund things, diluting more and more.
Things do change, so nothing is fixed but its been a good start here.
Lots of buys!!