Fluormin Share Discussion Threads

[dropside] 15/5/2012 14:30

Here is a nice chart, dollar-rand looking good for us..

[dropside] 15/5/2012 10:00

23.1 to buy now. I know that because I just have..

[dreggspicker] 15/5/2012 08:34

Well the offer is now 24p, I should be dipping in again, but my other holdings have also been decimated, even Afren oil which has put out alot of good news, is also subdued due to the Euro farce, so I am reluctant to sell to buy here, I am going to hang on abit longer .....

[dreggspicker] 10/5/2012 19:12

I can not say I am happy at the situation, but I am not throwing the towel in, many shares at the moment are at a low, and I expected the company to be making money hand over fist by now and I was surprised at the higher than expected cost of production, as anyone here, but I fully expect the board are doing their best to rectify this ...........

[dime] 10/5/2012 15:33

Pisces4, Indeed!! I too am Pisces so maybe it is an omen! This is just painful and boring all at the same time.

[pisces4] 09/5/2012 17:55

TIMBER!!!!!!

[dreggspicker] 26/4/2012 22:30

Commodas ultra ore sorter;



They certainly look the part ......

[bam bam rubble] 26/4/2012 21:53

"The outlook for fluorspar prices has forced management to consider its options to further improve mine and plant performance and the overall cost of production."

Slightly woolly language but the outlook in this statement is clearly negative. Prices are negotiated up to 9 months in advance so prices achieved for the last 2 quarters ($466-472) are not representative of the current situation which for long-term contract FOB Durban is more like $380-$400. China fluorspar demand is weak due to over-supply with rest of world likely to fall alongside so possibly prices heading to $350 where they should stabilize. FLOR are therefore looking at options to improve operating efficiency to prevent further deterioration of margins, which are loss-making even at the currently inflated prices

Another negative is plant recovery - previously averaging 78.8% in the period to Dec 2011,
the quarter ending March 2012 was dire at just 71.1%

[dropside] 26/4/2012 19:52

That is fair comment dreggs. My first reaction was not good, The RNS tone is hardly upbeat but on re-reading it a few times there is a lot of positive content there. This is a shift from earlier wording which appeared to question the future of Witkop, this does not question that Witkop continues to exist but identifies the task as being to improve "The outlook for fluorspar prices has forced management to consider its options to further improve mine and plant performance and the overall cost of production."
The fluorspar prices they are achieving look good. I know they have a medium term negative view but at the moment the price is going the other way.
The ore sorter looks promising.
The wording about increasing costs was concerning. However the fact it is followed by a statement about contractors shows, to me, what was driving some of that in that quarter.
I am staying put too... and will continue taking advantage of this low entry price.

[dreggspicker] 26/4/2012 19:29

Hi all, just been having another look at the figs and comments,

positive;

We now have a "material amount of stockpile of ore"

Improved ore grade 7.8% to 8.6% thats 10% improvement

cash in hand

Ore sorter does seem to get a improvement of the ore

negitive;

low production

costs up

outlook for prices are lower

Iam staying put ........

[27howard] 26/4/2012 15:35

Of course they were not you :-))

[27howard] 26/4/2012 15:17

Trying to remember where hatetrader made that post about you, spot on !

[christianf12] 26/4/2012 15:08

Bam Bam

You saying they have spent £5m in 3 weeks then?

Group Cash and Current Receivable Balance as at 31 March 2012 of US$21 million (of which US$1.8 million is restricted).

£8m is going to be on top by end of year!

[christianf12] 26/4/2012 14:49

You can't get hold of any decent amount of stock anyway!

[27howard] 26/4/2012 14:43

Thought about buying until I saw "Nevertheless, costs increased substantially"

[christianf12] 26/4/2012 14:41

FLOR will soon have cash equal to £22-23m, a £15m cap seems a tad unfair. Time to get back to 50p?