Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Thank you DR!
Maybe time to top up here. Nice update this morning. Some action at last...
news rich period nice
The survey will be used to finalise an initial, high priority, in-pit grade control drill programme before the end of December 2015 He's not messing about is he? More news soon.
Yes Looks like its starting off quickly, Great work, :-)
Hit the ground running. Hopefully the start of increased news flow. Off to a good start anyway.
Ferrex plc, the AIM quoted resource development company, is delighted to announce that following the acquisition of a five year tribute agreement, to mine certain defined gold deposits located on the leases owned by Norton Gold Fields Ltd a subsidiary of Zijin Mining Group Co., Ltd ('Norton') to mine in the heart of the Western Australian goldfields, initial fieldwork has commenced. This is in line with its goal to commence initial gold production of 20,000 to 30,000 ounces per annum in Q2 2016. A detailed land survey is currently being undertaken to assess the existing drill holes and previous mining operations, which have historical resources of 5,741,155t at 2 g/t of gold for 363,599 ounces. The survey will be used to finalise an initial, high priority, in-pit grade control drill programme before the end of December 2015. As part of Ferrex's mining development plan it will initially target shallow laterite and oxide deposits to generate near-term revenues. The deposits comprise previously mined pits with remnant economic material below the pit floor, previously unmined near-surface deposits and other high-grade underground opportunities. Ferrex Managing Director Mr. Dave Reeves said, "With limited work and capital required to commence gold production in Australia, we have hit the ground running in line with our target of delivering first production in Q2 2016. A small-scale drill programme is set to start ahead of the New Year to formally confirm the grades identified as part of the historic resource of over 350,000 ounces of gold. This will provide plenty of newsflow in Q1 2016, and we look forward to updating the market with this in the near term."
Jim .. I guess your reply is aimed at my post .. I believe potential earning figures are conservative ..and if we bring in £5mil profit from gold, then I believe 30 mil MCap would be achieved ..lets just say 6/12 months time we WILL be self funding and a lot higher and more valuable than we are now ... GLA
Hiya oil, Yeh nice bit of Sun bathing and snorkelling on a nice warm island, not to mention copious amounts of booze ;-) , back to wet and windy Cheshire now booooo
Hi BJ, hope you enjoyed your 'break' lol
Not really sure if mc have a great bearing on sp anyway, they are speculative at best, this has had a fairly consistent mc/sp ratio for the last few years but I think only because we have been thinly traded on the whole, sentiment is going to be the biggest driver imo, I just can't wait until we are self sufficient, I think the name change is a great move to shake off the unsupported frx tag. as daft as it sounds, aim is ridiculously fickle. New name, New projects, cash generative hopefully= fresh support. I think there's only been a dozen or so of the same people trading for quite a while, it's a much needed kick up the arse for aim investors I think. Don't really see much change short term but am happy to build and keep doing so. Far less twitchy bummed than 4 months ago. The definition of keras does it for me too. Gla
Oil - agreed. But he stated figures on gold production alone and for next year! Not saying he's ramping per se - but alluding to meets with DR and info shared etc as well as spurious predictions aren't really very informative. As I suggested - anything stated in a Pub to members of the public is fair game for all of us, not just a select few as seems to be portrayed. DR doesn't seem to work that way and after many years in here I'b be more than a little peeved if he did.
While we are yet to make any money, the most basic of valuations are 3-5 x earnings stripping out any one offs like a disposal of a site etc. With 2 sites producing this could well be in a nice place in 2-3 years.
Jim, if we achieve your revenue projection for 5 years and also get Togo producing, I for one would expect an MC of well in advance of $20m, never mind any other 'biggies' out there. Add in any potential revenue from the sale of IO assets (which whilst not great, compared to the value they could have delivered, could still bring in some much needed bunce) and I don't have a problem imagining that reality. However, since when did MC on AIM bear any relation to reality - you've only got to look around where company valuations go through the roof simply because everyone jumps on the bandwagon, only to collapse again when everyone moves on to the 'next big thing' , irrespective of profitability or management etc. I do in general agree that we should not be seen to be 'ramping' even if the claims can be justified. GLA
How would you come to that Mcap? 20-30k ounces of gold per year - so say a mean of 25,000. Profit of $3-400 per ounce, so again choose the mean of $350 = income of $13,212,500 at current exchange rates. Basically doubling our existing Mcap. Long way short of $20 mil let alone 30. I'm as LT and optimistic as any here but unless they have larger profits or/and more gold I fail to see how that alone can generate the numbers you mention.
Normally a bounce at this level. 0.4 to buy this morning. 26% would do nicely to start with but I guess it's the normal Lse glitch.
Had to place 3 separate orders this morning to buy £5k worth of FRX. Total steal at this price.
Meh
Up 26% lovely.
I am not inside .. Hence why I can buy ,The Gold project alone means I can take a position early .. It's a no brainer when you have BOD owning over 25% and stalling SP being down to third party not being up to speed ..So basically SP is a gift which is great timing .. Permit by Xmas ? Well it is a time for giving .. GLA
Nice buy Miller, I have also been feeding off the bottom .. GLA
He is straight up as I introduced DR to him on sat and left them to it early eve,i introduced DR to many on Sat so that the PR machine goes from 0-60 very quickly when needed .. slipped another 600k in back pocket @39.75 today .. I posted on twitter that the Gold income next yr alone should give us a MCap of over 20mil and maybe as much as 30mil .. GLA
Hufc - are you sure this isn't just a plug for your website? As you are a member of the public like the rest of us, I'd suggest any info told to you by DR in a pub is fair game for us one and all, surely?
Most likely the "Golden" amber nectar.
"had the pleasure to have a few scoops with him after the show" Vanilla and Strawberry I presume :)