Frontier Min Share Discussion Threads

[temmujin] 19/9/2014 20:30

we just need this completed then we're laughing...

As previously announced on 10 March 2014, the Company has agreed to sell its 100% owned subsidiary FML Kazakhstan LLP, owner of the Naimanjal licence area to UTM for a cash consideration of US$30 million.

The Naimanjal licence area is located approximately 200 km West of Semey in North East Kazakhstan, with four commercial discoveries covering 529km², including Baitemir, Yubileiny and Beschoku.

All proceeds from the sale are expected to be used for repayment of maturing debt of the Company and financing capital expenditures for the ramp up of copper production at Benkala to maximum levels. A further announcement will be made once completion of the sale has taken place.

[induna123] 19/9/2014 17:08

Tem, they're not producing enough copper to barely cover the running costs of Benkala, nevermind paying off maturing debt. If the creditors feel these guys are not up for the job then they can force FML to fold and sell off the assets to the highest bidder.

[blueball] 19/9/2014 09:29

Its worth about 0.12p imo.
Stick with rem a much better share.

[temmujin] 19/9/2014 09:11

HOW can a world class mine be doomed?

[blueball] 19/9/2014 09:06

Its doomed..doomed..

[trentendboy] 19/9/2014 08:36

This was always doomed following the hype of previos poor posters

[temmujin] 18/9/2014 16:42

bid rumour circulating in the city by all accounts...

[induna123] 18/9/2014 12:02

Is there a risk these will get suspended? They don't seem to be solvent going by that last RNS.

[blueball] 18/9/2014 11:11

Another new low for FML.

[cascudi] 16/9/2014 21:52

After watching this interview of the CEO in 2011,I don't know if I should laugh or I should cry.http://m.youtube.com/?#/watch?v=rMRXbuCUjOU

[cascudi] 16/9/2014 14:13

i am now hoping that we will have very soon a confirmation about the 30m$ and a confirmation about partner soon. This should bring share price up. but without those info , i don`t know. But at least, those directors, if they are still there, they should buy some share. Is any possibility to request an urgent shareholder meeting? what should be the process to ask one?

[induna123] 16/9/2014 08:22

Let's face it, these guys have continually failed. As someone pointed out on iii, they set a target of 4800 tonnes only a couple of months ago, now that's been revised to 1500-2000 tonnes with no explanation whatsoever. It's as though they pluck figures out of the air.

Barely making enough money to cover the running costs of Benkala how will they make their debt repayments this year? The delay in the Naimanjal sale has put the squeeze on the them big time. The creditors must be getting really fed up with FML now.

[blueball] 15/9/2014 22:15

Maybe the share price will fall to 0.25p tomorrow.

[cascudi] 15/9/2014 21:54

Kazakmys to have a deal with fml....In 2012 that was in the news, see link below.http://www.4-traders.com/KAZAKHMYS-PLC-9590214/news/Kazakhmys-Closer-To-Finding-Solution-For-ENRC-Stake-14158011/

[temmujin] 15/9/2014 21:41

maybe KAZ will buy the lot for £100m

[cascudi] 15/9/2014 21:15

I must admit that I feel a bit betrayed by this company after today news. Debt and poor working capital has always been an issue for this company even it was trading at 3p. But since January this year , I was a bit more optimistic about increasing copper volume production, reducing debt, selling asset to pay off debt. But today news killed me. I was expecting more copper volume sold by end of June and also a better forecast for the end of year eg 3500, 4000 ton. Now I am down 50 per cent. Shall I sell and take the loss? Will this company survive? With 40k dollars in the bank how they are going to pay salary for the workers to continue production? I think they should do regulation to push company to provide an update about cash and revenue every 3 months instead of waiting for ages.

[vizz] 15/9/2014 20:13

Both buying and selling is normally within the spread with any active 2-way trading.
The Bid & Ask figures are just markers set by the MMs, which they can improve on at will.

[cascudi] 15/9/2014 19:25

Today volume says that 3.7m share were sold. I have analysed those sell trades and only 1.2m share were below or equal to bid price. The others seems to big higher than bid price. Is it possible that they were buy instead of sell. Or is there any reason why the sell price was above bid price?

[vizz] 15/9/2014 14:58

FML's debt will reduce to $50m+ AFTER and IF the delayed $30m Naimanjal sale goes through. With FML now on its knees though with minimal cash on hand, who will be surprised if there's some hard-ball negotiating by the prospective buyer and any potential partner that FML might attract? What will be left for the rank & file after FML has been turned over?

Meanwhile FML doesn't have the funds to do what is necessary and another harsh winter approaches where activity is only limited and creditors become more restless.

[cascudi] 15/9/2014 13:51

assuming 1500ton ... 6700$ x 1500 = 10m$
30m$ is arriving from the sale of an asset.
this should reduce the current liabilities from 46m$ to 16m$ and so they should start to pay less interest