Member Info for Fossy

Nice one Clued. Springwatch production is also hydrogen powered, as they are often filming in remote locations and require zero environmental impact. Again apologies if this is already common knowledge.

Apologies if this has already been mentioned, but interesting that the Scottish Open is being powered by hydrogen, as are an increasing number of European tour golf events.

When added together makes a nice round 1,200,000 shares

As I've said before I won't be selling my shares at these prices. I'll take my chance on the company being sold eventually. After de-listing, this site and the iii site will not exist. Do you have a 'throw-away' e-mail address that you would be willing to post so that I can stay in contact. As a significant shareholder you are more likely to find out what's happening to the company in the future.

So who informed you of this? I see that this is your first post.

Thanks, I'll let you know how I get on. My loss on this with my sons is about 5k, a significant loss to us but nothing like what you stand to lose. I've followed you on iii so I knew you'd built a large stake. I was afraid they might take this private (as warned by Vizz on a few occasions) as it's an obvious way of shafting the pi's who have supported this company over many years, but once I'd lost 50% of the investment I couldn't bring myself to take the loss and sell, hoping they may turn it round. A lesson learnt. Like you, I believe there is more to this than meets the eye - copper sold as opposed to copper produced etc. It wouldn't surprise me to find they already have a buyer, or partner, lined up.

I agree with all you've said. I don't intend to sell for the pittance offered by todays sp. However, in order to retain the shares after they've been taken private do you know if we'll need to get hold of a share certificate. My shares were bought through TD Waterhouse and I will ask them the question. Also what obligations will the company have to keep us informed of their activities after privitisation? I was under the impression that if a company wanted to delist it was normal procedure to offer shareholders a price for their shares usually calculated as an average of the sp over a previous trading period e.g. 30 days. Whether or not this is a requirement of AIM I have no idea. Your thoughts would be most welcome.

Jascat I agree that some of the figures in the interims are a little suspicious. In last years interims they quoted both quantity of copper produced (466 tonnes) in the first 6 months and quantity shipped (390 tonnes). In the full year to 31st Dec 2013 they produced 1702 tonnes. We are now told that 511 tonnes were 'sold' in the first 6 months of this year, with no figure for how much was actually produced, and that they expect to produce between 1500 and 2000 tonnes total for the year ending 2014. Basically they are expecting us to believe that they have made no progress at all in the last year, even though in 2013 they stacked ore containing 3500 tonnes of copper and with 2 agglomerators now working, as you say they should have stacked considerably more ore than they claim. IMO these figures just don't add up.

May be of interest following your good work regarding major shareholders - From lawdonut.co.uk: - With a shareholding over 25% – you can block any special resolution. Over 5% – you can require the company to call a general meeting. You can prevent the compulsory purchase of your shareholding following a takeover of the company. You can apply to the Department for Business, Innovation and Skills for the appointment of an inspector to investigate the company. These percentages apply to either a single shareholder or "a group of shareholders acting together". Not only does there appear to be a seller intent on destroying the sp but the mm's set the spread so that buys look like sells. Manipulation? I suspect the company has turned the corner.

I agree with you that there appears to be some manipulation going on here. Strange how all 3 of those last trades have exactly the same time to the second. If a mistake was made and had to be corrected would we not expect a time difference. This kind of thing has been going on for some time now. Someone is trying to drive the sp down - a large holder, the mms, or a combination of the two IMO.

Not really thought about it before but quite certain each of those bundles of copper in photo 179 is a metric tonne. So the photo shows 5 tonnes, equivalent to a day's production in the months leading up to Christmas. Let's hope that's what they're now producing up to morning tea break.

We must be looking at different photos. The first photo shows an excavator but the mine is now so large that they are not so easy to see. The second shows at least 3 excavators and 3 lorries. I agree it would have been nice to see more activity and the photos have not been well selected. They seem to be trying to show the size of the mine. Photo 174 clearly shows material travelling along a conveyor.

Looks like good progress being made and I'm hopeful that good news is on the way. Bit worried by what looks like a tear in the solution pond lining.

At first glance the new photos don't appear to show much. However, it appears they have been selected to show some evidence of winter operations. The large diameter pipe appears to be insulated and terminates at some kind of covered shed with an electricity supply (see poles and cable), barrels of castrol outside. I would speculate that this shed supplies heated air for the forced aeration circuit to pad 4. Other photos show working vehicles, and piles of freshly mined ore (no snow covering) presumably suggesting that 'mining' operations have continued to some extent over winter. Also note that 919 tonnes of copper were produced between 1st July and 31st October - an average of 7.5 tonnes per day. So 5 tonnes per day for Nov & Dec doesn't look bad. All in all it looks like a good start to 2014.

Great news! I believe they had produced 1384 tonnes for the year to 31st October, suggesting 318 tonnes for the last 2 months - an average of 5 tonnes/day. Not bad for the winter.

Latest photos are on the website for November/December

Strange you didn't come out with all this just one week ago when you were recommending FML as a 'STRONG BUY'!!!!

Coley 14 - 12 Nov 13 - Subject - Big Seller Done? Strong buy ahead of operational update.

On 7th December last year the company reported that the plant had been closed down for the winter. Last years Winter was particularly harsh and prolonged. From what I've seen of the weather forecasts for the area recently temperatures appear to have held up well this year, although due to drop over the next couple of weeks. Not surprising as we head towards January, the coldest month in Kazakstan. Copper production this year may well be limited by the supply of pregnant solution from pads 1 and 2, although I believe some changes were made to these pads over the Summer. I expect they are holding back on news of this years production until the day of the AGM, and why not, as they are hopefully still producing. If they can exceed their most recent forecasts for the year then I believe we will have seen a bottom to the sp. The increased 7m height of pads 3 and 4 should ensure that leaching continues to some extent over the winter period - these pads have almost 3 times the heat capacity of pads 1 and 2, and given the exothermic nature of the chemical reaction it should be possible to maintain a sufficiently high core temperature for some continuous leaching. I believe that by March/April next year this company will be ready for takeoff.

Coley14 - it looks to me like you are the one contriving to drive the sp down to the floor. A week ago you were recommending this as a strong buy, and you've been ramping the share for weeks, if not months, with your cut and paste posts, most of which have been old news. Then, I can only assume, you sold your shares at a loss and changed your recommendations to strong sell, after which you have done nothing but try to talk the sp down. Since you clearly no longer hold shares I suggest you move on and get a life, after all if this share is such a dog I can't imagine that you'd ever want to buy back in.