Member Info for Castaway

the potential new asset AFCR propose to invest in - The Baita copper mine. The first link is a pdf from Eldore mining an ASX listed co. from 2011 when they were looking to buy the mine for a reported 15mil USD (see second link for info) Apart from the rated throughput of 120,000 tonnes of copper, there are assays showing 24% Copper and 12.4% Gold - good by any standards. If you read the Eldore pdf to the bottom they refer to the tailings dump. The mine was apparently run for several years with inefficient equipment giving only 65% recovery rates, and the tailings dump is rich in minerals, inc., around 300kg of gold - extracted that's £12.6mil worth approx. as well as Lead Copper Zinc, and Silver. If they can get this mine producing again and also extract the metals from the tailings, it looks very good. There should be trained workforce (as the mine ceased production in 2010, due to a fraud from a Swedish company - allegedly). http://stratosresources.com.au/sites/stratosresources.com.au/files/asx-announcements/41xmlvvtt47jr4.pdf http://miningwatch.ro/en/baita-bihor/

If you totally ignore the vagabond they will go away. Pointless non factual arguments just encourage them - that is what they want, to bother you. No one will be put off investing here by a single poster, posting rubbish. I am going to do a bit more research on Baita Bihor - looks very interesting, was being mined up to 2010, so won't require much to get it producing again.

Ahh it was from yesterday - oh well

3:38 looks a bit more interesting £56k's worth

I have had this a few times when trying to buy recently,you get really silly quotes well over bid. I just didn't buy or reduced the no. of shs and got a sensible price - I wouldn't read too much into it

Yes good if they do - I like the BOD to hold shares - makes them care about the shareholders

Sorry the purchase price is in € not $

Yes I had a look at the mine this morning and the mine AFCR are going to invest in was up for sale for $15mil in 2012. So for $1.2m 68% seems like a bargain http://miningwatch.ro/en/baita-bihor/

yorgi - yes going forward looking very good. Great opportunity to buy more today, then a bit of patience, and this is a very good investment IMHO

I think it was a good RNS especially the Romanian mine - the down side is the time scale, and a placing is required. I don't have a problem with the placing as it will buy a great asset, but some will, and it brings uncertainty until it is made.

Where was that info posted?

Production due beginning of h2 2015 - that is about 8 months after the Oct RNS (as stated ) - so on time as far as I can see

be on time, shame they don't proof read their own RNS properly - I hope they mean next year!!! "Mine commissioning is planned for the beginning of H2 2105 with first positive cash flows later in H2 2105."

of the mine and it is of interest that the then purchase value (2012) was supposed to be $15million http://miningwatch.ro/en/baita-bihor/

n November 2014 the Company entered into an option to acquire, at its own discretion, a 68 percent interest in Mineral Mining SA which company owns the Baita Bihor polymetallic mine in Transylvania, Romania. The acquisition price is €1,200,000 (approximately $1,630,000) of which €950,000 (approximately $1,290,000) is payable on a deferred basis. The Company is in advance stage discussions with the intention of raising approximately $2.5 million by way of a placing of ordinary shares in order to finance the acquisition of Mineral Mining SA and to enable the Baita Bihor mine to be put back into production. It is expected that the directors will participate in this placing.

.

the next trading session but I can sell 4 mil now for .905 and that is the best for a while - so it looks good

something going on

I am being offered .844 for that amount

I think it is still being traded, I bought some more at .79 and could have sold at .875 - nice 10% for half an hours trade