Ferrex Share Discussion Threads

[clocktower] 16/6/2015 14:50

At least by being posted anyone become aware of what is in the media and then one can make further enquiries to see if there is any substance in the story before swallowing anything that maybe true or false.

[4sta] 16/6/2015 14:42

Something like that could have sent the share price into freefall. Research should be done BEFORE not after posting.

[andylee3] 16/6/2015 14:11

We all make mistakes and I can assure you I have no 'agenda'. I'm a long term investor in Ferrex and have regularly posted on both LSE and here over the last four years. Some on here do have hidden agendas, but I certainly don't. You are, of course entitled to your opinion.

[clocktower] 16/6/2015 14:09

That is nonsense 4STA as so few have been traded, I expect andy posted it in good faith and then did further research like anyone investor should before buying or selling.

[4sta] 16/6/2015 14:03

Not good enough andylee3. Many people have lots of these and your post could have cost them a lot of money. I can only think you have an agenda by posting something that you aren't sure to be fact.

[andylee3] 16/6/2015 14:00

4STA....that poster on LSE was me, so apologies all round. Think I'll go back to bed!

[andylee3] 16/6/2015 13:58

It appears this particular site is Not genuine and so I'll remove the post....sorry for the confusion guys!

[4sta] 16/6/2015 13:49

Me neither, and I've looked everywhere I can think of.

[clocktower] 16/6/2015 13:30

Neither could I andylee3.

[andylee3] 16/6/2015 12:43

Clock, just be aware that this news has NOT been verified. Therefore make of it what you will.
I've not found any other articles relating to this 'news'.

[clocktower] 16/6/2015 11:18

Thanks andy.

[andylee3] 16/6/2015 11:09

Yes, but they don't always work on here. Anyway, I'll give it a try.....

[clocktower] 16/6/2015 11:04

Have you got any link on that story andylee?

[cyprussteve] 12/6/2015 15:12

Hi Rec0very Stock,
I believe your posting 4682 is an accurate summary of where we are now - the license date will be completely unknown until such time as a Mining Minister is appointed, and, when he is, I doubt it will be top of his priority list but doubtless DR will be on the case.
What will be interesting is whether DR has anything up his sleeve re Gabon - if he has , great - if not, then I agree a funding could well be neccessary.
As always , time will tell.
Steve

[sashimi] 12/6/2015 12:33

Recovery - well done on your post. Well said

[rec0very stock] 12/6/2015 10:43

Steve that article is dated 31/3/15 - ie when the convention was signed and the end of Q2 HOPE was also reported by RNS. The interims subtly moved the goal posts with the HOPE being moved to in the second half of the FRX reporting year ie by end Sep.

The first thing that needs to happen is the minister of mining needs to be appointed and as far as I can tell one has not been, indeed it looks like the new Prime Minister has only just been appointed.

I would imagine the appointment of ministers involves far more cronyism and corruption than we are used to in UK and no doubt takes longer whilst they make it look like careful consideration is being given.

Once a full cabinet has been appointed, there will be a number of issues higher on the agenda than the award of the licence.

Hopefully the award will be made before end of Sept, but I would not bet my life on it.

I do not foresee any real news being released before the award of the licence. However when it does come all the other news, which has hopefully been progressing in parallel, is likely to come in short order.

I have been watching trading and there seems to be buying support at about 0.55p, indeed over recent days buys have outweighed sells by quite a margin, but relatively small sells seem to drop the price and much larger buys do little to raise it. I have therefore has a small top up today as I could get the shares sub 0.55. If an opportunity arises to do slightly more at 0.5 or below, which is certainly a possibility as time drags on without news, then I will take it as I think things will move up rapidly when the news finally does come. I would not like to make a prediction on where it will get to, as we have not seen the full economics of the project and we do not know what the funding deal will look like.

There does also seem to be some limited revival in the Iron Ore price and there is a possibility that news on the innovative financing of Gabon could come around the same time as Togo news.

It must be remembered that the cash position of the company remains tight and if funding deals are not enacted that provide cash pretty well straight away then the company will need to do another fundraise and with no hard news that could be really quite painful, hence why I am being fairly cautious with my top ups.

[sashimi] 12/6/2015 10:03

Thanks Steve

So there still looking at having the permit issued by the end of the month (Q2)

[clocktower] 12/6/2015 08:04

Good link, thanks CS

[cammy3] 12/6/2015 07:33

Only 2 weeks left in Q2 then Steve Fingers crossed

[cyprussteve] 12/6/2015 07:31

This is a good site as it is the Government website and is updated daily. Search Ferrex and we get quite a few mentions.,Open in Google chrome I right click and say translate to English to make it easier.
The latest article reads as follows
"The Australian mining company Ferrex hopes to get the Togolese authorities a mining agreement before the end of the second quarter for manganese mining at the site of Nayega (northern Togo), said Tuesday Dave Reeves, Director General.
We study all aspects of this cooperation on the environmental front, the training of local personnel and fiscal Ferrex contribution to the Togolese economy, said Mr. Reeves.
Its objective is to achieve a win-win partnership.
Nayega has the double advantage of having a high potential and offer relatively low extraction costs.
According to geological studies carried out on 92,930 hectares, manganese values ​​up to 39% higher than the original estimates.
The company is the 250,000 tonnes exported every year.
The manganese is used for the preparation of alloys such as steel, aluminum, batteries or fertilizers."

[sashimi] 11/6/2015 20:43

Picked up another 1.2m today. Hope this pans out well. News can't be too far away.

[sashimi] 08/6/2015 16:53

Daniel - all governments are elected to prove to their citizens that they are the right choice for the country. By granting permits to mining will lead to economic growth (lower unemployment, higher GDP, possibly better trade balances and much more) So yes its in everyone's interest to issue such mining permits within reasonable time frames.

[danielmiller1] 06/6/2015 14:48

I don't think FRX is one of their priorities Steve....so all in THEIR good time!