Ferrex Share Discussion Threads

[cyprussteve] 06/6/2015 14:41

We now have a Prime Minister for Togo- next the other Ministers, including the Mining Minister - then the Nayega license.
Timescale - no idea !!

[clocktower] 04/6/2015 14:43

At least the forecast for Iron Ore is projected on an upward scale CS, even if it is no better than that. We will just have to wait and see and take your pick either to sit on your hands or take a calculated risk, and take the chance you loose the lot but that is a risk I am prepared to accept with the level of holding I have.

Nothing wrong with being cautious though if that's what your happy with.

[alan@bj] 04/6/2015 12:53

I've reported it as a problem to Google finance. Fishing Republic's ticker is - logically enough - FISH.

[yorkie52] 04/6/2015 11:03

According to Google finance we have been renamed fishing republic lol.

[danielmiller1] 04/6/2015 10:34

It's always peaks and troughs Steve.... nothing is stable or reliable where mankind has a hand!

[cyprussteve] 04/6/2015 10:27

Iron ore price forecast chart.

[edgein] 04/6/2015 10:09

Pug,

Nothing wrong with being cautious, its necessary on AIM. But as the management here hold 25% of the company I believe them that they're doing this for commercial purposes. We'll find out when the company release the economics of the mine in due course and at what price they secure funding. They previously hinted at a significant premium to the share price. But many will remain on the sidelines until they see the details. I don't mind being in before the details as its not a significant holding in these. Just a matter of time to see how aligned management and shareholder interests are here.

Regards,
Ed.

[danielmiller1] 04/6/2015 10:00

Always been one to to exercise extreme caution in is this. I was tell this board that when the share price was just under 2p


But of course many knew better!

[pugugly] 04/6/2015 09:56

Hi Ed and Ct- Good to see some old timers here.

As you know I am cautious - That is what concerns me about non release of economics - They should be known at this stage and are forming part of the negotiating platform So why not make them available to shareholders unless a very deep bath comeing from someone like Oaktree or another vulture fund -

Got caught that way with Ormonde so that is my reason for digging here before bailing out or diving deeper.

[edgein] 04/6/2015 09:22

Pug,

The company did make it clear that they're not releasing the economics of the DFS while they're in commercial negotiations. Most holders here have accepted that. The Mn ore price is only down about 5% on this time last year so hardly a dramatic fall.

"Full details of the DFS, including economics, will be released once a third party review has been conducted and the Mining Permit granted."

I'm in no rush and happy to follow the company's guidance.

Regards,
Ed.

[clocktower] 04/6/2015 09:13

From little acorns grow large oaks, other companies may have deeper pockets but have they got the directors like DR? Sometimes you have to back the people, those that do that at the early stages are likely to reap larger rewards. Of course only risk what you can afford to loose. DYOR.

[pugugly] 04/6/2015 09:06

I do not like the word potential "Based on outcomes of the DFS, the project has the potential to provide cash flow to Ferrex"

No mention of profit - Also at this stage I would have expected more realistic estimates of margins and volumes.

Until more clarity I suspect one to avoid - However DR is supporting with his own cash which is an encouraging sign however mineral markets moving hard against him and the major players have very much deeper pockets,

[rec0very stock] 03/6/2015 14:04

Certainly sounds like further delays to the licence (no great surprise), however when it does come it sounds like the rest of the pieces of the jigsaw will fall into place very rapidly.

I therefore consider it is worth taking a punt on buying a few before the licence is granted and have identified a few quid that I could bung in if the share price does drop back on the delay, as seems likely.

I am also encouraged by the news that they are planning to make some limited progress in Gabon. I am beginning to detect some signs that the Iron Ore price has bottomed out at least and may see a small bounce, which might help along the "Alternative, innovative options for the potential funding and development of Mebaga are being evaluated"

[danielmiller1] 03/6/2015 12:48

Interesting RNS expect a small fall back over the next few days

[cyprussteve] 03/6/2015 12:24

Fully understood, Skippy - good to see you again.
Yes, the Togo delay is extremely frustrating, and is probably a major reason for the drop in the share price
It will eventually be granted - of that I am as sure as I can be - and I would rather be in now rather than join the herd when that happens.
From today's RNS I am guessing that DR has a few other irins in the fire - we shall see.
I am still a buyer at this price - time will tell if I am right or not !!
Regards
Steve

[skippybragagnolo] 03/6/2015 08:08

Morning Steve, I see they appear to have dropped the prediction for the mining permit by end of Q2 and are now saying some time in the next reporting period which could be anything up to end September. As you know part of the reason I sold out was due to the ongoing insistence on setting targets that they should know by now they never seem to meet as the variables are out of their hands. Ultimately it doesn't matter because at some point the permit will be granted but it does cause uncertainty for the market which is why we've seen the ongoing decline in share price I hope for the sake of holders it maintains the current support. I have been considering buying back in at the current level but there may be further drops yet given the ongoing uncertainty. Good luck all

[cyprussteve] 03/6/2015 07:06

Interim results - interesting extract :
" Discussions with several parties on funding for construction of Nayega commenced and ongoing"

[clocktower] 02/6/2015 13:10

The support level seems to be well established, from 19% down on very little volume to just under 4% now, seems to show how this could really motor once any sort of positive news is received.

[jagzoil] 02/6/2015 12:49

Steve - 1.40-1.80 on charts alone...good buy!

[cyprussteve] 02/6/2015 12:45

I took advantage of the fall back to buy @ 0.585.
With news due soon re Togo license, I am hoping I have my timing right.
Ciao
Steve

[jagzoil] 02/6/2015 12:40

Fully agree clocktower

[clocktower] 02/6/2015 12:31

If the goods get delivered as expected, then nobody will need to ramp FRX for some time, as it will fly on its own accord imo. DYOR.

[andylee3] 30/5/2015 08:41

Never thought I'd say it....Daniel, FRX number one ramper on ADVFN.....LOL

[danielmiller1] 22/5/2015 09:20

He has the all important committment to his company and shareholders a quality rather rare on the AIM.

You Steve have Hammered this point home. I have checked and agree with you.....thank you for your persistence! I am sure that many will benefit from it if they have paid attention!