Member Info for JimBL

Hovering stage left, peeking from the curtains....

Free Cash Flow

Indeed. "Our EV v FCF is currently 1 to 1, whereas the typical (gold) producer averages 5 to 1, to 9 to 1."

Yeah, me too Marky. With hindsight I should have cashed out or traded this many many times over - but it was my first ever foray into AIM and I still have the same attachment to my belief in DR eventually working some magic here. Sorely tested for sure, and I have strong concerns as to why Togo is continuing to mess us about - but one day Rodney...!

Umm. And somewhere else I find - " North America is without a domestic manganese supply chain, and that poses significant problems for economic growth on the continent... All the high-grade (over 20 percent) manganese ore was mined out, leaving just the low-grade material. It is considered too expensive to mine given the lower-cost and easier alternative, which is to import it. The US previously had a manganese stockpile, but it has since been depleted ".
Curiouser and curiouser. Have they played a blinder here???

Yeah, that's what I'm now thinking. I've been struggling to make sense of Utah on it's own.

From RNS Nov '19 "...however, Keras believe that there is potential to add significant value by the production of manganese sulphate for the fertiliser and battery market as a second stage development. "

As it appears we are no longer looking at the battery market, but phosphate for fertilizer is a big yes in, and for, Togo - and Dangote is a major player and producer in-country already (and a potential customer for our Manganese?) - I am now wondering if this is perhaps a synergy to try and get the license pushed over the line?
https://www.miningreview.com/industrial-minerals/partnership-in-togo-to-transform-phosphate-into-fertiliser/
See, I can be positive at times ;-p

Sorry to hear that. Ok, the temporary bottom, for a week, when Covid lockdown commenced. Anyhow, be interesting to see if (why not?) we revisit that level once the dilution takes place. Certainly not priced in that the shares in play are going to double.

Well once again, it's no tale of woe to be simply correcting your comment that this is trading "near all time lows" --- it is the all time low.

Marriage indeed - but as it's only been in profit for me on one occasion during those years (and I equally believed THAT was the time it was going to take off (Kumba, 2.3p)) I stuck with it as we also had Nayega after all. Then I stayed put because of the tributes.
If the license is not forthcoming in the near future then I hope something else positive happens to allow you to exit with a profit. Otherwise, we'll be grouching at each other for a while yet ;-)

Cheers. It is what it is. I can understand someone's excitement at thinking something must be 'imminent' as there's a lot of us still here who felt the same way over Kumba, then the original Nayega license news, and the gold tributes. Discounting all that is a little naive in my book though. Personally speaking, I now think there's a rabbit off with Nayega and I am struggling with the Falcon deal. But hey, we are all holders so lets at least agree that all we want is the success we know the BOD are more than capable of producing and have done so elsewhere - but do it here and hurry up about it!

I ain't sl@@@ing it off - I'm pointing out reality to the person who is busy, virtually everyday, telling us how things are and why. I remain a believer in DR and Co, despite the many setbacks we have had. Doesn't mean I can't question our situation or decisions made.

Our current sp is what it is for a number of collective reasons, not just Nayega. a) collapse of iron ore prices, then b) collapse of AA/Kumba deal, then c) write off of IO assets, then d) gold tributes acquisitions not working out, then e) value of CAI holding removed from sp on distribution, then f) relinquish acquired nickel/cobalt licenses, then g) dilution due to acquiring Falcon - and h) still no license to mine Nayega. That's the potted history of FRX/KRS and why we are where we are.

"We remain confident and look forward to the mining permit for the [Nayega] project being issued in the coming months - this is the major condition to finalising funding to commence development of the project. We continue to engage potential funders and product off-takers and would like to have this concluded shortly after the award of the mining permit.”
Indeed. 5 long years ago. The only thing different now is we are no longer a company looking to supply the steel sector, nor are we in the gold mining sector, nor even now in the EV battery sector. But hey ho, phosphate will be our saviour and the license 'must' be imminent ;-p

My comment was in response to Tradedesk's post, as he used that number. In your post recently you quite correctly used the close to 6 billion figure.

Happy to try and be objective when I can see or at least try to understand the rational and economics behind something. Maybe I'm just too dumb! Nothing but blue-sky thinking however is equally as questionable surely?
As for the former Falcon CEO - where do you get that he was/is a 'sales guy'? "Jason Bahnsen, B.Sc. Mining Engineering, MBA, is a mining engineer with over 30 years of experience in natural-resources finance and operations. Jason's experience spans all facets of the mining industry from his early days when he spent several years working as a development miner for Canadian mine contracting companies at operations throughout Canada and at the Freeport copper/gold operations in Indonesia, to operations leadership roles (shiftboss/crew leader) for an operating underground gold mine, to engineering and executive roles with Rio Tinto (where he was involved in the development of the Century Zinc Mine in northern Queensland Australia), to resource investment banking (including Deutsche Bank and Macquarie Bank), to CEO of private and listed exploration and development resource companies. "
As CEO and Director at Northern Lights Resources they have a gold project in Arizona and a silver,lead and zinc project in Nevada.

Issued shares at 278.5million? Should be double that - after this deal is fully concluded - should it not?

Alright, I'm trying very hard to be positive on this - but these numbers aren't exactly exciting are they? Falcon had a couple of years going at this and yet there's only 700 tons of product which has currently found a buyer - and they have no agreement to take more.
If it's at the same price as lower quality product (in order to 'win market share') is there any actual demand for a higher grade phosphate? Genuinely puzzled - and open to alternate thoughts on this.

What is the selling price for the phosphate produced at an initial $229 per ton?

Indeed. I wasn't trying to ruffle your feathers by the way. It's just frustrating after all this time that we can't get a straight answer to the Nayega question and it's never ending delay.