Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Those words in 1st RNS .. Cash in Q2 With NO UPFRONT Expenditure .. Last week we needed 300k ... That is a massive Boost .. GLA
In Togo DR will know where we are Ref: Permit .. Big few weeks/months ahead .. All good stuff . GLA
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12594811.html
Cheers Lano, good to see you back here! Looks like the future is golden then. I think the yet to be announced project will also be in the precious metals area. Even with gold off its $2,000 high its well above where numpty Brown sold it all!
Ferrex, the AIM listed resource development company, is pleased to announce that it will be attending the Gold, Bears & Traders Show at the Queen Elizabeth II Conference Centre in Westminster on Saturday 28 November 2015 from 9:00 am to 5:00 pm. Managing Director Dave Reeves will be available to discuss the Company's recent activities, which include the acquisition of a gold production project in Australia which will deliver cash flow in Q2 2016 with no upfront expenditure. Dave will also be presenting at 4.00pm in the Bronze breakout room. To register to attend please follow the following link: http://www.goldandbears.com/. To secure one of five tickets please contact Elisabeth Cowell at St Brides Partners at +44 (0) 20 7236 1177.
Spikes are good in some stocks but for me not worth the risk to get caught out. Not after all this time we have been here. Gla
SD, I agree. There multi baggers have been in and out of this more times hoping for the big kill and now we finally look to have some tangible projects. I think if Togo can confirm soon this will get more of a much as of the two it is the serious value driver. WE still have our 3rd project that is being finalised which would give us plenty of plates spinning. I would love to see this pop but if it builds more slowly we are less likely to see it spike.
Thank you. Yes we have work to do here still. But I'm feeling we are in a better place now for moving forward.
Good to see you back Lano. I am impressed with DR, but am under no illusion that we still have a huge mountain to climb before the 3p/5p flag rears its head.
Morning all. I think we are now at our turning point in moving up now. Dr is working hard. Good luck this week all.
News this week to help us get up to .8 -1p then do a small placing to raise the 300000 to unlock up to $9mil Aussie from one project ..We are firmly on our way .. DR in Meeting on Tues in Togo .. Permit news, further acquisitions Sentiment and excitement will return as we hit more radars .. GLA
Hi OM, totally agree, there has always been a get rich quick crowd that arrive mysteriously before news. While I would love to see some news send this to 1p plus slow and steady wins the race. We now have a cash generating prospect 2 assets we will sell the long awaited Togo and a mystery one. Personally I think DR has played it very well, he knows Togo will come good but not when. He is out there this week I believe so while I don't expect a response this week he will know how things are shaping up on time scale. I am sitting on plenty at close to the low price so happy to forget about them until 3rd quarter when I think they will be a different prospect.
Still got half a million shares In here . Sorry to say I have wrote it off. If or when they get the license it will be months before they make any profit. There are companies out there that have McCain less than this that are producing. A m is a big joke
JR - all just games being played at the moment - all the buying before this week has probably resulted in the get rich quick crew bailing coz they are off to find a quicker return elsewhere. Dilution is such a divisive word in the markets but in reality what have we actually achieved from this deal? This is not dilution to progress an existing project, this is controlled dilution to purchase the right to mine this prospect for 5 years - we have essentially paid £930,000 for a prospect that has proven capability to pay back up to $45m over 5 years. I'm really impressed with the change of direction towards short term cash generation - this will turn us from hopeful wannabees to a profit making, self sustaining concern - an we will know if DR succeeds in short order - he has said it himself - generating cash within 28 days of delivery of gold ore to the factory - we get paid whether Norton process the stuff or not. Add in the fact that the 2nd tranche of shares to cover the remaining buy in of £465k is being covered by revenue as we don't pay it until we have sold 10,000 ounces - at $150 clear profit per ounce (min) that brings in $1,500,000. This is also not 'normal' Darwinian type dilution, the shares are going to be held by new directors and other staff who will wait for a longer term payback - I think you could be bang on the money, talking about special dividend - how better to reward the long term faithful and ensure they hang on to shares for future big bucks returns. Had comms with DR since Wednesday - in high spirits - the silence is OVER and he is back in control of his and our destiny - strong news flow from here. I will sell my holding in 6 months time if he fails to deliver! GLA
Meant to read ' have mms stopped taking stock'.
Good to see we haven't slipped any more today. Have sellers cleared out or have mms taking stock? Been reading over presentation again and the last line of this bit from pg 7 makes me curious, 'Cash flow from Australian Gold set to fund development of Togo Manganese with no dilution to shareholders. Results in increased cashflows to Company and shareholders.' Is there a hint of a dividend, special or otherwise or more just a general statement? Wondering too if the mention of 'minimal dilution' on the same page led to a bit of a sell off.
Yes, agree. I hadn't read it until now. Hopefully it is somewhere that doesn't take 3 years to get pen on paper.
in free float are only around 295 mil ... GLA
Looking at pg 7&8 of the investor presentation seems to suggest something else.
Sentiment for the project and the shares would clearly be helped if the price of manganese recovered from $1.63 a kilogramme to nearer the $4 a kg prevailing eight years ago.
Buy the unloved Ferrex on its Aussie gold deal, says Robert Tyerman Unloved West African manganese play Ferrex (LSE:FRX) is to pay up to £930,000 in shares to buy into gold production in Western Australia. The company intends to follow that with another ‘higher value’ deal before the end of the year. The UK-based company, whose shares have fallen from a 2011 AIM float price of 3p to 0.45p now, is to buy Chaffers Mining, a private gold mining concern which has a five-year agreement to mine the yellow metal at Paddington in the West Australian goldfields for Norton Goldfields, part of Zijin Mining, China’s largest gold producer. Chaired by ubiquitous sector veteran Brian Moritz, Ferrex, now sporting a stockmarket value of £44 million, is making this move after making a strategic review, described by chief executive officer Dave Reeves, as ‘a long hard navel gaze’. Reeves, an Australian mining engineer and former luminary of Zimbabwe Platinum, says the company has decided ‘iron ore is not coming out of its depressed pricing bracket for a long time’ and intends to sell its existing iron ore assets, at Mebaga in Gabon and Malelabe in South Africa, while a company name change could be on the cards. However, Ferrex still plans use cash derived from mining a hoped-for 20,000 to 30,000 oz. of gold a year at Paddington from the second half of 2016 to fund development of its flagship Nayega project in Togo, boasting an initial reserve of 8.48 million tonnes with 14% manganese. The company, which lost £1.9 million in the year to September 2014 and another £659,000 in the six months to March, is paying an initial £465,000 in shares for 100% of Chaffers, to be followed by another £465,000 in shares once production reaches an annual rate of 10,000 oz. Reeves says the acquisition could ultimately give Chaffers’ vendors up to 11% of Ferrex, with two key directors, Peter Hepburn-Brown and Peter George, joining the Ferrex board According to Reeves, mining the Paddington gold leases could cost an average A$900 (£450) an ounce over five years, against a current gold price of A$1,510 an ounce, or US$1,078.67c, yielding handsome profits per tonne, helped by a weak Australian dollar, even after paying a 22% royalty to Norton and without the need for heavy capital spending, as the venture spends the first 2.5 years open-pit mining before going underground for more attractive grades. But Nayega remains the prize and the Paddington money will go towards developing it for production. With a measured resource of two million tonnes at 17.1% manganese and claimed potential to produce 250,000 tonnes a year, while the overall resource estimate is 11 million tonnes at 13.1%, Reeves insists nitial capital costs will be ‘nowhere near’ the $15 million envisaged in the definitive feasibility study on the project. Sentiment for the project and the shares would clearly b
Togo surely?
Anyone have any idea as to what the further project is? Documents being finalised suggests it won't be long till we find out.
In the short term : Togo License : DRS : Deals on current projects : Further Acquisitions (Gold) .. all protected by next yrs income being around current MCap ... I can't find a better short medium or long term play ..We also have an MD who is well respected in all fields and industries .. Also look at how big a % of the company is in sticky hands .. That 1 mil buy yesterday @ .395 was mine Enjoy the coming weeks GLA