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Very up beat interview obviously placing or rights issue will occur but looking forward to the re-rate here
Chaps, I can't make it tomorrow due to a funeral. Can someone please post a brief summary following the call? I would greatly appreciate it. In particular long periods of silence and missed deadlines needs to be discussed in my view.
The Gold alone in yr 1 could be conservatively worth £4.9 mil which would see the MCap at around £29mil before anything else all IMO of course... enjoy the cast tomorrow .. Im buying more tomorrow. . GLA
Liquid Millionaire 17 Nov'15 - 18:40 - 4868 of 4868 1 0 Ferrex (FRX.L) - Speculative Buy at 0.5p Ferrex, a diversified mineral resource development company, has entered into an agreement to acquire 100% of Chaffers Mining, a private Australian gold company. Chaffers currently has a five year toll milling agreement in place with Norton Goldfields to mine certain defined gold deposits on Norton's mining leases, located 30km north of Kalgoorlie in Western Australia. Ore will be treated through Norton's nearby Paddington processing plant. The gold deposits host historical resources of 5.7Mt grading 2g/t containing 364koz gold and located within 25km of the Paddington plant. Under terms of the acquisition, Ferrex will issue £465,000 in shares at a deemed price of 0.5p to acquire 100% of Chaffers and an additional £465,000 in shares on production of 10,000oz of gold (equivalent to an in-situ value, on aggregate, of US$3.9/oz historical resource at current prices). In addition, Ferrex will pay all processing costs and a 22% royalty to Norton on any gold recovered. SPECULATIVE BUY Read the full report.... Beaufort Securities
Dinner with Dave Reeves as we speak ... wish he was Ceo to all my investment s GLA
Dinner with Dave Reeves as we speak ... wish he was Ceo to all my investment s GLA
Morning @ 11am Shareholder call with Dave Reeves .. all info available on website .. Shareholderenquiries@stbridespartners.co.uk
Just submitted questions to St Brides in advance of tomorrow's call and I will be listening intently. I urge you all to do likewise GLA
Thanks for posting - a good listen If DR delivers on his last 3 reasons to invest, we will all be smiling here: 1. Short term cash flow 2. Recycling cash flow into Togo to make more cash 3. Further acquisitions and general market improvements (assuming we are somewhere near bottom) and 1-2 yrs could look very different here. DR sounds like he just wants to dig holes. This to me reiterates a fundamental change in attitude from selling prospects (as they did before) to actually becoming producers. In spite of the market reaction, you can't fault DR once he has something to sing about....
17 November 2015 Ferrex plc ('Ferrex' or 'the Company') Shareholder Call Ferrex plc, the AIM quoted resource development company, is pleased to announce that it will hold a shareholder call on Wednesday 18 November 2015 at 11.00am. During the call Dave Reeves will update participants on today's news that the Company has acquired 100% of Australian private company Chaffers Mining ('Chaffers'), which has negotiated a five year tribute agreement with Paddington Gold, a subsidiary of Norton Gold Fields ('Norton') to mine certain defined gold deposits located on the Norton leases for treatment at Norton's nearby Paddington processing plant. To participate in this conference call, please dial 0808 109 5644 FREE, or +44 (0) 20 8322 2500 if you are calling from outside of the UK, and type in 2950614 followed by the hash key for the access pin. Please note that all lines will be muted with the exception of Dave Reeves', however the Company invites shareholders to submit questions to its public relations advisers, St Brides Partners Ltd, ahead of the call via email to shareholderenquiries@stbridespartners.co.uk. St Brides Partners will acknowledge receipt of shareholder enquiries to that address via email, and in the case that a response from St Brides Partners is not received, please re-send the questions to the email address or call +44 (0) 20 7236 1177. All shareholder enquiries must be received by 10.30am. The management team will strive to answer as many of these previously submitted questions as possible during the course of the call.
Shareholder call.... http://www.investegate.co.uk/ferrex-plc--frx-/rns/shareholder-call/201511171645020602G/
https://audioboom.com/boos/3822467-344-the-mad-stork-and-ferrex-managing-director-dave-reeves
Great level!
Well said, any cash realised from selling off the assets that no longer meet the companies criteria will give DR and the team a much needed war chest to look for opportunities. This will take a little longer to settle but now the company has 1 banker and needs to start adding to it. It has been mentioned DR is off to Togo next so hopefully that will be the next piece of the jigsaw. Looks like this will be a gravel even to load up on.
What has gone before is now somewhat of an inconsequence IMO. What it has cost to get this far or what value it would bring to FRX has had no bearing on the SP for ages. For DR to move on provides hope of much shorter term recurring revenues from the gold. If the disposal of Gabon/SA IO projects and the SA MN project generate a fraction of their 'perceived value' for me that is a great thing - it puts more cash in the bank, allowing DR to be far more acquisitional - today proves that he can deliver on that front and still move the company forward against the backdrop of difficult commodity markets. As has been said, 1% of the mining value of these projects will still inject significant cash into the coffers - who knows, we might even get a 'special dividend' - now wouldn't that be nice! However, I suspect in DRs mind, receiving 1% of the value of these potential projects is nothing to crow about. As PIs and shareholders though, I think today speaks volumes. Predictably the get rich quick crowd will no doubt disperse until further news - hey ho. GLA GLA
Well as we haven't done deal yet I am sure DR will squeeze the best deal he can, not sure how much it will impact price though. Still need Togo to light the fuse.
CB, yes, I understand that. Just wondering what that fraction may be. I mean, 1% alone of Malelane NPV would almost double our MCap! Throw in Mabega and a share of Leinster and there has to be some significant value for us, surely, based on what we are currently valued at?
I think that point he is making is it will be a fraction of the mined value, this will be the that got away in terms of big fish. The asset have been improved in value as it has a JORC and other studies so its an up scale version of the deal we have done today. Does anyone know what we paid for both ore assets ? Its like we have the planning permission and need to flip for a quick buck rather than the big buck. I am glad they are back to what they know best.
DR advising against hopes of substantial money for Mabega / Malelane - though surely they have to have some degree of meaningful value for us? $523 million NPV at Malelane alone, so what would be a fair market value in the current climate for both??? Common sense approach in my view as we have assets that can't be realised for the considerable future. Perhaps they are going to redirect towards more precious/specialised metals once again. That is after all where they have excelled in the past.
Great to see some news today, I feel we are 2 steps forward today but one back. Togo is still the big play for this share and the permit continues to drag. Today shows what great leadership we have and their ability to re focus he company. This will not happen over night and clearly this is reflecting in the damp squib on the price front. I like the deal done in shares as there is a big juicy carrot in the second tranche t get them producing quickly. They way the deal has been structured shows that the new board members like the look of us and have ultimately backed us with this vote of confidence. Ultimately the big pop would be nice but if this now slowly starts to burn and lift its head up as it has been somewhat de risked then I think it will have more stability. GLA.
nice bit of unexepcted news... Looks like Dave might actually start producing !! Onwards from here..
Worth getting loaded for production - does anyone know when they can excersie the shares and sell them? Is it straight away?
I agree matey, don't get me wrong. Just unexpected and as I said, trying to take it all in and weigh it up objectively. Even if I don't sound it, I am actually happy ha ha gla here's to more of the same
I'll take a 10% dilution if it doubles, trebles or quadruples the MC of the company. Prospects from here are looking a lot more within DRs control