Member Info for oilmagnet477

It is certainly my understanding that all the paperwork for the permit is in place and ready to go (no pun intended!) once the country's governance issues are resolved. It is frustrating and some clarity around what is going on would be good. If the inauguration of the President is being delayed due to personal issues with the President (?) then there isn't much anyone can do. I do not believe much that is being posted on the interweb but it does seem odd that the PM has been appointed but is powerless to do anything until the President is inaugurated and the ministers formally appointed. It is just a piece of paper at the end of the day. Not sure what mitigating processes might be in place if the President were out of commission? Makes the UK Gov, with a Constitutional Monarchy (who is always replaced instantly by the next in line) seem like a truly enlightened idea!!

The Togolese Minister of Mines, Noupokou Dammipi, said that the recent decision by the Government to close down 90% of the illegal sand quarries, was justified by reasons pertaining to environmental protection. Slightly off topic but this article was released on the 10th May, which would indicate that the Mining Minister, Noupokou Dammipi, has remained at his desk - if this is the case then hopefully the continuity is a good thing for the permit.

Never let the truth get in the way though! £85k invested at 1.75p - no dilution or loans or options involved, just bought off the open market. Total flesh in the game of DR alone is 128m shares - a small proportion of which have been used to keep things going while we await news. Problem with a general placing is that you have limited control over when the 'investor' sells. If DR and BM are prepared to invest then at least we know that those shares are unlikely to be sold. At the end of the day, make your mind up to invest or not based on prospects and potential. Your posting style is ALL TOO familiar, perhaps you should move on.......

President in fine health!

1m trade gone through at 0.51p on ISDX - that'll be a buy then jammy g1t! Nerves have calmed down now - nearly had a very bad morning on the loo, thanks Andee!!

Taken from the bottom of the earlier linked page ---> "Actualite.co is an entertainment site, news are created by users. They are humorous news, fantasy, fictitious, that should not be taken seriously or as a source of information! " Some seriously sick people about IMO

weirdly, other than your link, I can't find any reference to this via Google. Here's hoping all is OK

contacted Togo - do not believe rumours to be true.

Andee, I certainly cannot find any further evidence that this story has any credibility, however I do not lay any fault at your door for posting what you did. Have sent an email to DR seeking clarification. I have to say though that I sincerely hope this is a hoax (however disgusting it is) as the implications to timescales wouldn't be good - although, if true, no one would be able to claim they could see this coming!

Your last para in relation to this is misleading. DR and BM EACH advanced £50k to the company, that's £100k. These loans were repaid plus a total of £12.5k. So that's 12.5%?

Who might not filter our resident TROLL, consider this. The figures calculated at 10% per annum might look excessive to anyone getting a 1% return in a bank account, but they are hardly wonga or payday loan rates. Also, the directors have a substantial proportion of the shares in this company but unlike us PIs, they will only be likely to sell at the end of the process and not take profits along the way. If I had £300k to offer FRX as a loan facility, I wouldn't consider 10% to be outrageous. In fact, if I took share options at 0.5p and sold at 1p plus, then that would be 100% plus. It is easy to stand on the sidelines and nit pick but if you ever run your own enterprise, dealing with the bureaucracy of any countries Govt, then you know how much hard work it is. I'm fully committed here and am expecting a damn sight more an a 10% return. Always more than 1 way of interpreting data. GLA genuine folk

Cheers Steve - good spot, I've been keeping my eye out for this so good to see. Evidently the formation of a new Govt takes time but with the appointment of a new Mining Minister in the coming days, then they can progress the Mining licence as expected. GLA

http://www.proactiveinvestors.co.uk/companies/stocktube/3793/ferrex-md-on-feasibility-study-and-mining-licence-progress-in-togo-3793.html Have a listen to this. DR refers to this during interview and I asked him about this via email - progressing and we will be updated as soon as possible - I suspect once Togo licence sorted we may see a significant uplift in company activity thanks to the funding being sorted. Hope that helps GL

Cheers Steve, maybe a return to more sustainable price levels will add some reassurance to the long term interest in low capex projects like FRX in Gabon. Combined with the 'mystery development outside of world IO markets' this could be nicely timed to co-ordinate with an uplift off the back of Togo licence. Cheers OM

Mother knows best lol

Then where were you when I bought half of my holding between 1.65-2.00p I've been here for over 3 years and not just here for a quick trade. As Jim says, if you want to be taken seriously then try some overall balance, and a pinch of humility wouldn't go a miss either. EVERYONE hates people that come across as a Know all - just saying.........

Any delay is frustrating but for me, apart from missing 'self imposed' deadlines, the BoD imo have little to be reproached for. The permit could have been issued back in 2012, but unfortunately this wasn't in FRX's control and since then we have had to contend with and satisfy new requirements - New mining code, new mining convention, environmental permit etc etc - all of which have been discussed to death. This has also therefore got caught up in Togo's election process, all of which, from Togo's perspective, take precedence. At each stage FRX have successfully passed each milestone, any timescale estimate given by DR for each has only ever been a best estimate - given that all decisions (once FRX have submitted the required paperwork) are outside of our control, it is little surprise we are where we are. Ultimately it all makes little difference - today's price only matters in the very short term if you are impatient or like some (non invested) observers see this all ending badly - but then, if you are not invested, why would you care? For me, I'm confident in DR, based on his track record, and in spite of what is evident from official comms (with regards to delays), I have always found DR to be exceptionally helpful, honest and above all HEAVILY committed to shareholders - backed up by large % holding, a £85k buy at 1.75p and a £300k loan to avoid dilution. If it does all go pear shaped, I'll be found locked in my Anderson Shelter in my Norfolk garden - I'll post my contact details - all donations will be gratefully received. BUT it won't come to that!!! GL

Pres - what were you expecting? I for one never anticipated anymore than a recap - they are always somewhat behind the curve in relation to events. As Basil Fawlty once said "What do you expect to see out of a Torquay Bedroom Window -The hanging gardens of Babylon, Herds of wildebeest across the plain etc etc" No point looking for something that was never going to be there. There is ONLY ONE RNS that matters right now and we all know what it is, and yes it has been a LONG time coming! GL

BHB4 - I couldn't agree more, but in all comms with DR that I have had, backed up by his own actions to avoid dilution and support the SP, I am led to believe that a conclusion to the permit, funding news and DFS result have all been tied together because they are all now so close - now most of the work is concluded, our cash burn should be significantly reduced until the permit comes in and new funds kick in for renewed (and rapid imo) activity. GLA

Jim - good to see you drop by. Initially I shared your concern about the apparent slippage into the 'next reporting period', however on consideration I think that it is logical to conclude that the chairman's statement :- "Negotiations with Togolese Government representatives over the Mining Convention have concluded. The Mining Convention is a comprehensive document outlining the Company's and Government's commitments to each other on fiscal, environmental and social issues. This is a significant step for the Company, and in conjunction with issue of the Environmental Permit last period, clears the way for the Mining Permit to be granted. We expect the Mining Permit to be issued in the next reporting period." refers to the period under review - ie to the 31st march 2015. Q2 would therefore be the next reporting period. ready to be shot down in flames as medium term it makes little difference as long as the permit is awarded, which you agree is more than likely. Sadly dealing with Govts (especially in Africa) is tricky to call exactly. Let's just wait and see. Still think there is plenty of upside from here, hints at further developments in Gabon look interesting and could seriously reverse this trend when combined with Nayega. when we were previously moving forward with Gabon, Togo was on the back burner - and we were in a range of 1.65-2.25p - when Togo hits the permit milestone and Gabon comes back on stream, surely those levels will be surpassed - and from these prices, even with the limited potential for decline, the upside is massive. I know where you are coming from given your previous experience but your post, whilst 'concerned' at least does FRX the credit of recognising the ultimate potential here and is balanced, rather than negative and blatant. GL