Finnaust Min Share Discussion Threads

[maccamcd] 25/10/2016 09:57

You've become irrelevant and boring in this FAM chat. The shareprice and the journey is all that matters.

[il duce15] 25/10/2016 09:04

richie666- I'm new to this boxing match, is it pay per view?

I own FAM so will be interested to know when you actually take a position (long or short) rather than just talk

[birotop] 25/10/2016 08:20

richie - if it was a boxing match, it would have been stopped long ago. Interesting to see if you get any replies to your questions, I am guessing the recipients will have to run off to someone & ask if they could explain what you have asked because, for sure they will not have a clue....

I would not touch this with the proverbial...

[richie666] 24/10/2016 23:19

Am I still winning birotop? ;-)

[richie666] 24/10/2016 22:26

The note has a lot of flowery language, nice industry pictures and is v 'wordy' but there are lots of caveats and ZERO hard figs re the NPV calculation, why a nonsensically low 8% disc rate has been used and where on earth $60m is coming from...

As for "conservative inputs" - you are smoking crack Mark - look at my comments above and for once, just once answer the points instead of blinded optimism as you are in deeeeep and cannot accept that I may be right.

I have emailed the analyst those questions and we'll see if he answers too. We are presently doing a serious DCF valuation on a v conservative basis for another mining co so don't tell me about analysis.

Mcillree tried to silence my note (aswell as defame me for which he has not had the good character to apologise as you know too) and we can now see that this stands up v well against this biased note. The Spangle note does not, I believe, even use the right share count assuming the option exercise for 100% of the project in arriving at the valuation of 19p. How can anyone take that serious?

Are Spangle still holding the stock they were given too? Now that would be interesting if we could establish this. As for u being "very, very, very happy" - after over 20 years in the City surely you can see that the header - "Non-independent research. share price Angel acts as broker and Nomad" means that their comments cannot be seen as independent? Irony is that if a crew like Align had written about them and actively sought out their coverage by virtue of believing in the value then the worth of the note would have been multi-fold rather than this puff piece to keep the story going.

D day is looming for the valuation. U all know that. I give you this though - the crew have thrown the book at this promo and have got the price to 7p. Well done.
Getting it on from here now requires a REAL industry player to buy in. I don't see it but am watching with interest and yes, now I'm ready to open a short.

PS As you saw this weekend - other observations from me and comments continue to come to pass. I will very likely be right here too just as I have been on almost every other issue I had discussed with you Mark.

[snowyflake] 24/10/2016 21:01

JORC resource later this year.

That will be the time for you to be critical Richard J.

[richie666] 24/10/2016 17:58

Cple more observations from the "note" - aside from the caveat they have inserted - "Our valuation figures are still relatively approximate ..." the per share fig using a nonsensically low disc rate of 8% in the NPV (and without illustrating how this NPV has been calculated) does not = 19p per share. Fully diluted IF they acquire balance Blue Jay, we believe there will be 662m shares in issue per here

Current shares in issue 494,400,804
Options & warrants 19,309,366
Bluejay deferred consideration 40,755,885
Bluejay option 108,071,388
TOTAL 662,537,443

Divide $144m / 662 and then v 1.23 at the current FX rate and you get 17.6p not 19p.

I've emailed John Meyer a variety of questions. See if he answers.

More holes in the analysis than a sieve!

[richie666] 24/10/2016 15:07

Only thing I need to see - Capital cost $60m,

Where is this coming from? I have been through the note and it is incredible that there is no DCF valuation to arrive at the price target. Madness.

Look closely at the disclaimer too - there is no note of SPAngel still holding stock or warrants that I believe they are duty bound to disclose. IF they have sold while advocating a buy then that is "interesting"...

[rampair] 24/10/2016 09:59

Pituffik – ‘the place where they tie their boats’
 The nature of Pituffik deposit is very different from other mineral sands deposits and experts suggest Pituffik titanium mineral sands grades may rank among world’s highest. Pituffik’s mineralogy is much simpler and the deposit is seen as unusually consistent.
 Tonnage, consistency and metallurgical evaluation should help confirm potential value of the in-situ deposit. Quality of mineral sands concentrates is critical with Pituffik appearing suitable for sulphate production. Processing, as with all ilmenite, is required to reduce impurities to acceptable levels.
 Simple removal of silicates improves the ilmenite product and optimisation of the process route will further improve the product. A major bulk sample is planned with which to prepare samples for testing by consumers.
 Royal IHC, the Dutch dredging company, is supporting work on the dredging of shallow and near shore marine mineral sands. The support of such a major dredging company is a major positive for the company.
 Demand for ilmenite concentrates should continue to rise as cost and pollution causes China to cut production of titanium from titano-magnetite iron ores.
 Avannaa acquisition gives the FinnAust team more to look at in Greenland and option value over some potentially large exploration projects.
 Valuation on 100% of Pituffik: We value the project at an IRR of 43% and a $144m NPV on an 8% discount rate. This give us an NPV per share of 19 pence.
 Assumptions: Ilmenite production 332,500tpa. Ilmenite price $130/t less a 10% discount reducing the price to $117/t. Shipping $40/t (>$10/t to Canada). Mining and processing $15/t. Capital cost $60m, though preliminary estimates are significantly lower. Royalty rate 2.5%. Corporate tax 30% starting in year 4.
 Climate: The project is located in the high Arctic limiting mining to between 3-5 months per year. The project will be subject to campaign mining through the summer. The ground is subject to permafrost with the top meter or so thawing through the summer months hence the preference for dredge mining.
 Location: Greenland should offer relatively simple extraction site with no community to move and relatively few environmental issues. Work continues with the support from Greenland government agencies.
 Its near-shore, shallow-marine location on the West coast of Greenland means temperatures fall to a relatively mild -29C for the Arctic through January and February. Ilmenite mineral sands should not freeze below sea ice.
*We are grateful for the contribution made by Phil Swinfen toward the preparation of the note
FinnAust Mining is advancing toward mining titanium rich, ilmenite mineral sands at its 60% owned Pituffik mineral sands project on the coast of Greenland. The company also has other base metal and mineral licenses in Finland and Greenland which it is evaluating with the support of its major shareholder, Western Areas.

J.meyer,SP angel

[rampair] 24/10/2016 09:57

A research note from SPAngel today, very positive 15p target,
Full link
[...]

[rampair] 19/10/2016 12:04

move south! :-) ( Rampair hides from angry Yorkshire man !)Heresy!

[richie666] 19/10/2016 08:31

Ramp - ice sheets this year already one of the largest in many years in Arctic...

Anyway's - I wish there was some global warming here in Yorkshire! Precious little evidence to me!!

[rampair] 19/10/2016 08:11

Last sentence of that article
"“It is likely 2016 will become the warmest year in the 137-year record,” Blunden said."

Don't talk about warming to snowy, - it melts his heart.

Where we live it didn't rain for 6 months this year & it was .....hot!
I would prefer to make less money and have no climate change, but the truth is - we do have change - check videos on you tube of Qaanaaq 2012, interviews of locals who now have barbecues, Admittedly probably worse than UK!

[richie666] 19/10/2016 07:52

This doesnt bode well for em Snowy -

Jury's still out on climate change.

[snowyflake] 18/10/2016 22:12

not just a pile of sand but allotta of sand and very pure in ilmenite sand.

[rampair] 18/10/2016 18:07

Perhaps, but I do understand a pile of sand.

[birotop] 18/10/2016 08:58

Looking at the historical backgrounds of some of the directors of this company, I would not touch them with the proverbial...

[snowyflake] 17/10/2016 20:08

Well I have made my bed also and since I believe that the board have various options open to it I am staying. After all there is the argument that RM saw that Pituffik was undervalued and got it for a song.

Also the gurus who have drafted that guerilla note did not take into account that the Sierra Rutile debt is being picked up by Iluka thus making the comparison argument put forward weaker.

[rampair] 17/10/2016 19:33

Well, made my decision too. Not quite 26m...but enough for me.
It's a simple project & well known, when the only argument seems to be market timing
then I shall spread my holding over time.

R,

[richie666] 17/10/2016 16:23

Align is a regulated entity with robust PAD rules. If I or others in Align were short we would have disclosed.
Shareprophets have a clear disclosure policy and I doubt they would breach that.
BMD is open from what I see on his website and am sure he would have disclosed.

Only concert party is you and your pals in the City. Non disclosure of holdings is sumtin you should pay heed of...

As for reading RNS. I suggest newbies read here -

[maccamcd] 17/10/2016 16:17

'WE'? did you SAY.. 'WE'? are you acting in a concert party to try and get the shares down? is 'we' stating that you are trying to create a coordinated bear attack on the wonderful FAMily?

lets start with the facts as I can see them.

today is Monday.. ALIGN, SHAREPROPHETS and now BMD have ALL put their names to talking down the share price of FAM..

and you know what... the shares are higher today.. ABSOLUTELY PRICELESS!

shows you.. the holders and average investor out there isn't stupid like some people try to make out.. they've actually looked at the RNS'S.. looked at the website.. looked at potential..thought about market cap vs opportunity...
AND THEY'VE DECIDED TO ROLL THE DICE...

BRILLIANT!

Viva to Lapland with a slice of pizza on me lap.. boom boom.

[richie666] 17/10/2016 14:51

If we were short we would have declared.

[richie666] 17/10/2016 14:40

Your off again Mark!!! Jeez. U calling the note nonsense when I have invited both you and Mcillree to correct the mistakes and if they are I will. Neither of you have so far pointed any mistake out.

And you now have the evidence showing your assertions earlier that it was pulled from the Align site because of errors is an untruth. Would be good for you to set the record straight.