Member Info for oilmagnet477

"There have therefore recently been plenty of people with little confidence in Ferrex." People trading FRX for a quick profit are not trading on the long term confidence in FRX, they are simply trying to make as much money as possible in as short a time as possible. If people weren't so damned impatient before running off to the 'next big thing', we'd probably see more SP stability but to be honest, I really don't care what anyone else does apart from the BoD. I'm guessing that when they sell, we won't see ITYS for dust

Cheers SFU. I also contacted DR regarding the permit (didn't ask about the DFS). We await the reappointed of Ministers, then sworn in to Parliament. After this there will need to be a couple of Council of Ministers meetings where they will deal with pressing issues initially as there has been no council for a couple of months. We should get permit thereafter. We still have until the end of June til end Q2 and in reality, so what if it is longer, nothing sinister, just the cogs of Govt turning.

30 October 2014 Nayega Manganese Environmental Permit Granted Exploration Permits Extended Ferrex plc, the AIM quoted manganese and iron-ore development company focused in Africa, is pleased to announce that the Environmental Permit at the Nayega Manganese Project ('Nayega' or 'the Project') has been granted. The Project is located in northern Togo held through Societe Generale de Mines (SGM). The Environmental Permit sets the conditions for the operation of the mine and is major milestone with regards to the granting of the mining permit, which is expected by the end of the year. The Environmental Permit is based on a comprehensive Environmental Impact Assessment ('EIA') and community consultation. In addition, the Company has received extensions on its Prospecting Permits after relinquishing 50% of the 92,000Ha area as per the mining code. These permits have been renewed for two years and are renewable for one more period of two years subsequent to this. The Company is applying for additional ground in the area to maximise the possibilities of further exploration success. This follows positive results from recent pit sampling which is focussed on increasing the current JORC Code compliant resource of 11.0Mt @ 13.1% Mn (please see the press release dated 16 October 2014). These results confirmed a number of exciting targets which have the potential to add substantial value to Nayega. AND THEN (AFTER SIGNIFICANT EFFORT BY FRX AND TOGO GOVT OFFICIALS) 30th March 2015 Mining Convention negotiations concluded - document forms the basis for the proposed development of Nayega o Consisted of negotiations between the Company and the Government of the Republic of Togo though its appointed "Point Focal" group o Positive outcome for both the Company and the Government as the document outlines the significant contribution that Nayega will make to community development, skills transfer and fiscal uplift in return for tax stabilisation and other fiscal incentives o Next step is the grant of an exploitation permit anticipated by the end of Q2 2015 Wake up and smell the coffee - this is AIM so of course there is an element of risk but if you live in a world where everything happens over night and is guaranteed, then good luck to you. That is why the proven track record of this BoD (in spite of the delays which have been detailed ad nauseum) of $1bn sales of previous assets and a substantial BoD stock holding makes me feel confident that we will get the permit. You are welcome to your opinion, and there is always a slim possibility that you may be right - BUT the odds are stacked against you - you have shown NO evidence to prove otherwise. That is what I call a gamble.

Well said Jim - also worth noting of course that ALL of the additional requirements that FRX have had to satisfy HAVE BEEN MET and also that they have been met in as timely a fashion as possible.

Ferrex plc, the AIM quoted manganese development and iron ore exploration company focused in Africa, would like to inform shareholders that results of Togo's Presidential election on the 25th of April have been announced, with incumbent Faure Gnassingbe sworn in to office by the Constitutional Court on Monday the 5th of May. Ferrex Managing Director Mr. Dave Reeves said, "I am pleased that the Togolese people have exercised their democratic rights and I would like to congratulate President Gnassingbe and his Party on his re-election. This continuity in leadership is a positive for the Company, as the Government has been very supportive of our plans to develop the Nayega Manganese Project. We will continue to work closely with the Government of Togo to ensure the Nayega exploitation permit is granted as soon as possible so we can proceed with development of the project for the mutual benefit of the Togolese people and Ferrex shareholders. I look forward to providing updates on this and other matters as information comes to hand."

continued.......... and yet the EVIDENCE does not support what you say. ITYS only contribution was as constructive as ever!

Pres, in the interests of balance, you claimed - "My point is that quite a few people on here said the price was going to rise after the price extension. It fell! A lot of people were talking hot air, like ITYS said." What was actually said in relation to the price extensions was thus: JohnnyS - nearly had a heart attack!! friday pm RNS are never great and i thought we had one there!! closing auction....very interesting -------------------------------------- OilMag - Sorry for the basic question but what (if any) are the possible implications of the extended auctions? Are we likely to see some late reported trades? -------------------------------------- JohnnyS - Price extension - link to detail what the circumstances of a price extension are. -------------------------------------- Oilmag - thanks for the link -------------------------------------- Parislse - what are these 400 buys about?? ------------------------------------- gilgamesh - if you believe in codes it means trade the stock sideways as in range. This can be as they want info in an RNS before direction dictated. To others its just a computer Glitch or re jig from an earlier order. -------------------------------------- BigJ - Thanks for the link Johnny. I'm still not sure I understand why 2 extensions were made, as afterwards there were no late trades showing or any real volume through the day and no sp fluctuation afterwards...... Or have I not grasped the function of PME's ????? What suppose I'm asking is.... It's the first time I've seen this and does it normally indicate anything or not? Answers on a postcard please ;-) thanks in advance for any insight -------------------------------------- gilgamesh - I would suspect we will see a big trade or two from Friday pm show up in one to three trading days as no reason else imo. -------------------------------------- Chimp99 - My thoughts also.... -------------------------------------- Dancy - Big buys, Someone knows something.. Probably raising of finance at a premium. MM will want to keep the price down and take some sales over next few days to balance their books and take profit. If buying shoots in Monday morning they will be struggling -------------------------------------- ITYS - Someone had a guess that there was some big trades in that price monitoring ext, total guess. 2 posts later you turn it into big buys, someone knows something, laughable. When you say raise funds @ a premium, its already trading @ a premium and there wont be any funding news until permit is issued and that could be a year down the line imo So, in summary, it seems to make sense (I hope you agree) that there had to be a reason for the 2 price extensions on Friday. The conversation alluded to 'large trades' showing up - which btw they may still do - so either 'buys' or 'sells'. Only 1 person suggested large buys and yet you turn that into 'quite a few' and 'A lot of people talking hot air' And yet the EVID

pres - Like you, I'm all for balanced posting but as BJ says ITYS has only 1 agenda and that has nothing balanced about it. It comes down to whether you believe FRX can get the permit - end of - and you can forget timings to some extent - sure, we all want it done asap and any delay will undoubtedly hit the SP, but that would just give everyone a golden opportunity to add IMO. When the permit is landed (and IMO it is defo a when now not an if, based on all the activity that has been goin on over the last 6 months) FRX is a very different beast. I strongly believe that the permit will land before the end of June but in spite of ITYS opinion that we all spout carp, I will wait until this comes good whenever that is. The assets FRX holds will come good at some point, even if current timings are frustrating the short termers. DR is here to the end - I don't see him selling on a false spike. GLA

0.25 is not 50% of 0.625

Thanks for the link

It's a close call - you've not met mine - totally brain dead but for food! I'm thinking of renaming it ITYS lol

Sorry for the basic question but what (if any) are the possible implications of the extended auctions? Are we likely to see some late reported trades?

Perhaps he could become the BB mascot - a drooling smelly old Labrador Oh hang on BJ already has that for us, oh well, let's have him put out of his misery then ;)

The real joke around here! And just where on the 'tin' does it say 'agreed'? Better hope for your sake that we don't get an interday RNS - but even then, it is still April. Tomorrow sees the end of April as it is May 1st.

2 trades were reported on ISDX earlier for 1.555m shares - one at 0.5p and one at 0.7p The 0.5p one has now been removed and a 1.555m trade has shown up on LSE at 0.7p Weird goings on but looks like a Bed and ISA - either that or someone just bought 3m shares without ticking up!

http://www.togoelections2015.com/togo-president-extends-lead-in-vote-partial-results-news24/

!!!

Whilst in agreement that the SP in unlikely to fall below 0.50p, that does not preclude the possibility, given unexpected news. Not for a minute suggesting that there is any and not wishing to scare the horses, but we have been at 0.45p in the passed - yes it would result in DR not being able to raise cash below 0.50p but the scope for SP decline will always exist. That is why it is so important that the permit is delivered and we start mining and generating cash - that will prove a major boost to FRX reputation and provide a clear route to greater things with a ready source of cash and outside investment. All of which is going to happen in the very near future if all goes to plan. GLA

Perfect for ITYS to sit on all by himself without any friends

What use is 20% of a sofa?