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Ferrum Crescent Share Discussion Threads
Showing 4401 to 4424 of 4425 messages
|20 K BUY FOR ME TODAY|
|12m sell ?|
|Late trade from yesterday 10m bought at 16. Buyers appearing again.|
|Exactly , to be sure !|
|Good spot andrea, looks like they working behind the scenes and of course any talk of funding will very much depend on how they proceed with Moonlight.|
|Also, look at points 2 & 3 on page 2 of todays RNS. Specifically 2: Moonlight developed "Within Existing structures or "New Engineering Pathways". 3: "Looking to diversify the asset base away from bulk materials, in low cost & secure jurisdictions." Hmmm.
Both of those bullet points wud appear to contain a significant clue as to future developments.
|"We are at present suitably funded for our immediate plans and we remain particularly committed to full transparency with our shareholders and throughout the markets where we are listed."
I agree immediate plans could be next week or next 6 months. Basically we don't know :)|
|Obvious in the accounts today that FCR need to raise cash. They have enough for 2-3 months before they start to get desperate. $1.2m at year end, with average 6 month cash burn of nearly $900k.|
|Quite, bucket with a hole in it. Rampety ramp. Place - To mates & good friends & former girlfriends only, of course !
Not so sure about your well considered pessimism on Moonlight though. I think they DO know exactly wot they are doing & how to do it, but the legal "wrinkles" r proving extremely frustrating. I used to work in corporate finance, so I know exactly how that works & feels, especially if there are confidentiality agreements or exclusivity clauses involved in negotiations. (together with 3 different listing Authorities).
I DO expect to see some news on Moonlight (whatever that may be) by the end of this month , however, otherwise I too will b VERY disappointed. 15 months with no full & proper update is just unacceptable.
IMHO. DYOR. GLA.|
|Andrea, i take your point about MAFL but i doubt they could have got a placing away that quick ?|
|I think when they say a "JV or Farm out" it implies they don't know which so unlikely to be very far down the road of negotiations on either. I could be totally wrong but it still seems up in the air to me. Next big news exploration results in Sept ?|
|Quite agree Black, and Fireman Sam. Nothing new in here that we didn't already know, except, the bit on Moonlight, buried right at the end, confirming that it is likely to be a JV or Farm out. I think most of us had already guessed that this was the likely course of action anyway. Don't know Y it is taking so long to sort out with the Aussie and S.A. Lawyers, but I suppose they have their fees to rack up ! Bless !
Also don't think any of that AA data on additional Moonlight drilling is even relevant now F.S. and I think any work on it has probably been canned. A 308m tonne Jorc shud b enough to get any JV/Farm out underway, in any event.
Larry Read really needs to pull his finger out on the PR side, as I think this BB has probably done more PR for FCR than any Director, to date ! I understand that there is potentially a new website & Instit Roadshow pending, however, which might lift a few chins, espec if it coincided wiv positive Moonlight news & maybe a name change , or sumthing else ? (latter 2 points are merely idle speculation on my behalf).
These things all take time, but the likes of Teck, Boliden or Lundin weren't built in a day either and they are now multi million mkt cap Plc's.
IMHO. DYOR. GLA.|
|Ha Dont say any of that on LSE Sam :-)
Agree the prefered method of update seems to be via private phone calls and not RNS.
Why on earth were punters told the cash situation and no need for a placing 4 days ago by JT on the phone and yet most of us have to wait for this report ?
Again this is exactly why this company is not given serious credence by investors.
That said it is what it is and its not going to change so same old same old i think. the bottom line is as i keep saying, JT might be a good financier and Merlin might be a good geologist and project leader but that doesnt mean either are any good at PR.
the company seriously needs to sort its PR and all this nonsense about secrecy and closed periods is getting a little tired.|
Bit disappointed with the update to be honest it was a cut and paste exercise and as you said nothing new, we still wait for an update on Moonlight, we still wait for results from Spain, we knew we had sufficient cash for the short term, we knew what was happening in Spain and await further progress, we knew that Moonlight has all the relevant grades as highlighted yet again.
What we should have been told was what was the additional info on Moonlight as remember a while back as below:
Update re. Recovery of Certain Historical Geological Data
on the Moonlight Project
Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, is pleased to announce that, further to its announcement of 15 June 2016, it has recently received confirmation and an initial overview from Anglo American, via its subsidiary, Kumba Iron Ore Limited, of certain historical geological information it holds in respect of its exploration work on the Company's Moonlight and Julietta licence areas in the Limpopo province of South Africa, conducted between 1993 to 1997.
With the support of key local stakeholder groups, notably the Lephalale Municipality pursuant to the Company's Memorandum of Agreement and co-operation framework, Ferrum's management recently approached Anglo American seeking to recover the aforementioned historical exploration data and core samples. Anglo American's Technical and Projects team at Kumba Iron Ore Ltd has been most cooperative to date and provided the Company with a preliminary data set overview. The Company understands that Anglo American is currently in the process of compiling a consolidated list of all the available data held by it which will serve to assist greatly Ferrum with the planning for future delineation of the ore body and its extensions.
The anticipated receipt of the additional data from Anglo American should enable the Company more cost-effectively to progress the expansion of its current JORC resource estimate for the Moonlight project. A further update will be provided by the Company in due course as appropriate.
This was released in July 2016, why haven't we heard about this?
Spain i believe will take its own path but the point of releasing an update is to update and not cut and paste what we already know.
|All in all a good update and it looks like Moonlight is still under discussion so you never know. other than that, nothing new. Its really a bit of a nonsense producing figures in $ AUD now but i guess there is more important things to deal with first however i agree with Andrea a rebranding would help. I think it will come but not until they have sold Moonlight.|
|Confirmation of the cash situation and fully funded.
Ferrum's principal project is the Moonlight Iron Ore Project ...|
|interesting comment re irish zinc mines on another thread. I read a little while ago a report from a couple of years ago that 1/3 of all zinc mines would close because of unprofitability in the coming few years. This is surprising given the zinc price has remained pretty constant over the last 10 years except for one short spike. I assume it down to costs of mining ? It might however bode well however for Toral where the zinc is near the surface and should be more economical to recover ?|
|I do think we will need to consolidate in order to get institutional interest ? I remember pat viera saying on here sometime ago that institutions are not interested in fractional penny stocks. The good thing about institutions is they usually bring stability.|
|Plenty of other things that JT COULD comment on though, e.g. Joburg Office and Perth Office and staffing levels ?, a further update on activity at Toral, on the ground ?, maybe a company name change to reflect new Zinc focus ?, share price consolidation ? and of course (waits for the sound of Trumpets & Heavenly Choirs to die down) - Moonlight !!
|Just need some news to get this fired up again, cant believe JT has let this go on for so long! Would't want to be on the end of his next podcast!|
|we do seem to have bottomed out at the moment.|
|Agreed it was the 15th last year. Difficult to forecast cash burn i would think given the increase in field work needed now till the Toral results are due in Sept.|
|Rumors of an imminent placing in FCR, put about by professional de-rampers are, I believe, very untrue. They have no need to raise any money at present, as all investment programmes are fully funded.
|The smaller Zinc Mining Company Space seems to hav come under the spotlight today, to be sure.