Fluormin Share Discussion Threads

[dreggspicker] 13/9/2012 11:34

getting closer pisces .........

[pisces4] 31/8/2012 17:14

my 15pence price target is getting ever closer,people losing patience here and who can blame them. not for the faint hearted and not a particularly investor friendly company,the chart looked like it had bottomed out but so glad i have waited,my fingers will be twitching in next few weeks,lets see.

[dreggspicker] 14/8/2012 08:38

howdlep,out of interest, do you still hold?

[dreggspicker] 13/8/2012 19:35

Don't get you Bam Bam, as of last Dec there was $10m in the kitty, we sell Kenya, then get 13m = $23m less $1.5m loan to Florone also a bit of tax, plus a substantial plant upgrade and we are still standing at a bal of $21M ---- not bad + we have been told the investment will be less going forward, so I think your "cash burn" is way out ......

dreggs

[howdlep] 13/8/2012 16:17

Cash plus receivables of $20.7m equates to £13.188m. Even if you exclude the $8.7m (£5.543) that still equates to $12m ($7.647m). However, the $6.5m (£4.141m) is forthcoming in November.
Grades are important as you say but tonnage up and drilling schedule increasing.
Bottom hit imo and a good point to be investing in the future

[dreggspicker] 13/8/2012 16:15

not sure where you are getting those figs from Bam Bam, I take it as money in hand + money due from the Kenyan sell due in November.
The head grade is less but as they say it is now consistant less erratic and with a increased recovery rate ........

[tivoliworldgaming] 13/8/2012 16:03

Well since I been back to share trading my first choice was Noventa and I doubled my money and I now holding them long term. Now this is my second choice and hopefully second time lucky.

[bam bam rubble] 13/8/2012 14:31

Not exactly 'in the bank' as it refers to cash plus receivables. At end June available cash was around £1.6m residual plus £4.7m received from the KFC disposal. Add 2 months burn rate and will be close to £5m by end of this month. Enough to get to Nov 2012 at which point the deferred £4m payment will hold off the need for fundraising for a bit

The key figure from the update is the declining grades. 6.0% recovered grade is dire

[dreggspicker] 13/8/2012 14:05

also approx just under 30p ps in the bank ............

[dreggspicker] 13/8/2012 13:56

yep. I am quite happy with this, glad it is neutral, could be seen as good, and not bad, with a fair wind we should get where we belong .............

[howdlep] 13/8/2012 11:51

Market cap £22.3m.

Financially cash rich. Looking good for a re rating from here:-

Quarterly Update
RNS
RNS Number : 8855J
Fluormin PLC
13 August 2012



Fluormin plc

("Fluormin" or the "Company")



QUARTERLY UPDATE



LONDON, UK -- (Marketwire - 13 August 2012)



Fluormin Plc (AIM: FLOR) announces its quarterly update pertaining to its fourth fiscal quarter.

Highlights



Operational highlights for Witkop Fluorspar Mine ("Witkop") for the three months ended 30 June 2012 ("Q4"):



- 22,651 tonnes of CaF2 produced (Q3: 19,954 tonnes)

- 79.0% CaF2 recovery (Q3: 71.1%)

- 7.6% CaF2 ROM head grade (Q3 9.0%)

- 26,436 tonnes of CaF2 shipped (Q3: 12,079 tonnes)

- US$468 average price of tonnes shipped (Q3: US$472)

- 12,721 tonnes in product inventory as at 30 June 2012 (Q3: 16,376 tonnes)

- 21,700 tonnes CaF2 under sales contracts but not yet shipped as at 30 June 2012 (Q3: 46,500 tonnes)




Financial



The Company remains well funded with cash and receivables at 30 June 2012 of US$20.7m (31 March 2012: US$20.9 million). The balance includes restricted cash of US$2.2m and US$6.5m cash consideration due from the sale of Fluormin's 20% interest in Kenya Fluorspar Company Limited, which is due to be received on or before 30 November 2012.

[howdlep] 13/8/2012 11:40

Yes a much better quarterly performance and cash rich. Time to get back in or accumulate imo.

[grollfam] 13/8/2012 11:36

More good news than bad news on todays update

[dropside] 09/8/2012 10:34

That buy just now was me again.

pisces4, you are asking the right questions. The mine has been a drain on cash, I believe they are now priced below the cash they have, which also means there is no value attached to Witkop, the Bou Jabeur contract or the Tunisian fluorspar asset. Will the cash continue to be drained away? The RNS's make clear they are making substantial efforts to put things right. The exchange rate is now in their favour and the fluorspar price has held steady , around 420-440 fob China (Durban may be slightly lower).
(Figures quoted on the Tertiary website are cif Rotterdam)
The Coffey CPR is well worth a read to understand the mine potential.

The Q3 update was over 3 months ago so hopefully we will get news soon.

[pisces4] 02/8/2012 16:46

how long will that cash last though dreggs and how much have they already spent on bringing the mine back to something like profitabilty? from info on here it isnt making money yet,how much more time do you think that will take, if it can be achieved at all.

[dreggspicker] 01/8/2012 17:17

I would say $450 - $550 for acid grade see;



Also Tertiary say $500 - $530


dreggs

[grollfam] 01/8/2012 17:03

What is the Fluorspar price ?????

[dreggspicker] 01/8/2012 16:42

Nice post there Steve, FLOR are one of the lucky aim miners with cash behind them, but as you say that does not have seemed to have stopped the slide,the small selling has stopped for now .. us long toothers just need a good update and a lot more buyers ....... Fluorspar prices holding up nicely ....

[cyprussteve] 01/8/2012 14:46

As with so many AIM resource shares,FLOR is being hammered due to the market - and is not unique in this respect.
There are a large number of exploration Companies - ( even those that are actually cash positive and in production) - that are suffering.
Undoubtedly there are bargains to be had at the moment - and dropside may well be right that this has been oversold - but, the problem we all have at present is the overall concern regarding global financials, and the incredibly thin trading in the market at present - the days of the longer term investor - ( of which I am one) - have, for the present time at least, seem to have totally disappeared, and the market is dominated by short term profit takers.
So be it - one cannot fight the markets.
However, I have a lot of respect for dropside's judgement - ( he always does his homework) - and, if he is calling it correctly it may well be one to follow closely - at sometime there will be a market rebound in small capital explorers - the million dollar question is when !!
Regards, and good luck to all,
Steve

[pisces4] 26/7/2012 13:09

good luck to you mate , wish i had your confidence,but if its one fact i have learned over the years as regards buying shares,its "never to buy with no volumes and a falling shareprice",hope im`e wrong.

[dropside] 25/7/2012 14:36

18.39 to buy now pisces. I know that is definitely a buy :-)

[pisces4] 24/7/2012 16:01

as suspected drops,yours may have been a buy ,but the rest certainly were not,so glad i wasn't tempted to buy any more of these,will wait till 15p,then see.

[dreggspicker] 11/7/2012 08:34

Tertiary has just posted a rns which has the following in it;


"Fluorspar prices stable in Europe despite uncertain economic outlook. Further Chinese Government policy initiatives reported to tighten grip on Chinese fluorspar mine supply with fluorspar exports likely to reduce further amid fears of a foreseeable exhaustion of Chinese fluorspar reserves."

link;

sounds good to me .......