Ly Emu Small Discussion Threads

[dreggspicker] 18/4/2011 14:05

A friend of mine spent 2wks at Zibra, mineral collecting a few years back, and says "The whole valley is full of fluorspar", make of it as you will .......
But I take that as positive ...... ;@}

[rmart] 18/4/2011 13:15

I agree, I wish I had my 5m shares in here !

I'm glad to hear you think it's close though. I just wish TOM would give us an update like the board here do.

[godolphin] 18/4/2011 13:11

This one rmart! lol. But it's close. Less unknowns here (though still some), and Firebird's interests are the same as mine - a good share price and maybe special dividend in a few years.

[h d shoring] 18/4/2011 13:08

I am beginning to think that mms are sat on something out of the ordinary in Tunisia .
They have done a fair bit of drilling/sampling without giving results .?
Could it be they do not want to issue results and give the impression of extreme wealth before negotiations else where are completed .
I am sure the runt of Sallies shareholders would hold out for a much higher price if bumper results were available from Tunisia ???
As for relisting delays ,a rns a week like todays and they can take as long as they like .
Tom ,Dmr ,they will come back sometime hopefully .

[rmart] 18/4/2011 12:54

GODOLPHIN,

JUST WONDERING, OUT OF THIS ONE AND TOM, WHICH ARE YOU MOST CONFIDENT ABOUT?

[godolphin] 18/4/2011 12:04

I assume they have delayed the relisting to sort out this new company. I wonder if they have something else to sort out now since they seem to be delaying a little more.

[dreggspicker] 18/4/2011 11:33

so re- float in June I would expect, but if b4 please would someone let me know !!
Yes more dilution, but hopefully a better price for the product with this new trading company .......

[godolphin] 18/4/2011 10:31

They've made another cautionary announcement for Sallies on the jse. I was hoping that would mean the documents were getting out today. This means they will have to raise more cash I would think. I suppose the wait doesn't matter as long as fluorspar rises and the plans move closer. Bit concerned about more dilution, but too much would surely be self defeating for Firebird.

[topinfo] 18/4/2011 09:23

More waiting to re-list!

DJ Maghreb Minerals PLC Formation of a Fluorspar Marketing Company

TIDMMMS

RNS Number : 0846F

Maghreb Minerals PLC

18 April 2011

Maghreb Minerals PLC

("Maghreb" or the "Company")

Formation of a Fluorspar Marketing Company

Formation of Fluorone Trading (Pty) Ltd.

The Board is pleased to announce that Maghreb has formed a marketing company in conjunction with Mr. Jeffrey Kofsky for the purpose of marketing and trading fluorspar. Mr. Kofsky is a leading expert on the trading and marketing of fluorspar having had a 20-year career in the industry. He possesses an exceptional understanding of the business and the Company will benefit enormously from his knowledge of the customers who purchase fluorspar worldwide and their particular technical requirements.

The new trading company - to be called FluorOne Trading BVI ("FluorOne") - will be owned 49% as to Maghreb and 51% as to Mr. Kofsky. The Company's business will involve the purchase, sale, storage, transport, offtake, hedging, marketing or other dealing of fluorspar products (whether produced by the Maghreb group of companies or otherwise).

Maghreb and Mr. Kofsky have agreed to provide FluorOne, a limited liability company, with its initial capital (proportionate to their shareholdings) and Maghreb has further agreed, by way of a facility agreement with FluorOne, to provide additional capital in due course. Such funding will be made from cash flow arising from the Company's fluorspar operations, when available.

Commenting, Nicholas Davidoff, Chairman, said:

"The establishment of Fluorone trading as a specialised fluorspar trading company represents an important strategic step for Maghreb. This, together with Mr. Kofsky's extensive industry experience, will provide Maghreb with a critical presence in the market that will strengthen the Company's ability to achieve its stated strategy of building a significant position in the international fluorspar industry."

Appointment of Director

The Board of Maghreb Minerals is pleased to announce the appointment of Mr. Jeffrey Lawrence Kofsky (45) to the Maghreb Board with immediate effect. Mr. Kofsky is a leading fluorspar trader with extensive experience in the international fluorspar trade. He joins Maghreb from the Commercial Metals Company, where he spent more than 20 years ending up as Senior Vice President responsible for industrial raw material trading, including fluorspar, and vessel chartering.

There are no further details in relation to the above appointment which require disclosure under paragraph (g) (iii) to (viii) of Schedule 2 to the AIM Rules for Companies.

Mr. Kofsky has been issued with 17,000,000 options to acquire ordinary shares exercisable at a price of 2 pence per ordinary share (which shall vest immediately).

The total number of options outstanding is now 120,033,333 being 18.9% of the current issued share capital, but 9.8% of the share capital as enlarged by the proposed acquisitions of Firebird's interests in Sallies and KFC as disclosed on 24 December 2010.

Update on the Readmission Process

Further to the announcements on 24 December 2010 concerning the proposed acquisitions of interests in Sallies Limited and Kenya Fluorspar Limited (collectively the "Acquisitions"), the company wishes to update the shareholders on progress towards finalising these transactions and readmitting the Company to the AIM Market. The Acquisitions constitute a reverse takeover of the Company for the purposes of the AIM Rules for Companies. The Company is currently working with its advisers on the preparation of an AIM admission document which it expects to be able to publish before the end of the second quarter of 2011.

For further information, please contact:

Maghreb Minerals Plc

Dunbar Dales - CEO Tel: [phone]

Westhouse Securities Limited Tel: [phone]

[dreggspicker] 16/4/2011 22:12

all the bleedin same birchin, now that is finished, there's that horrible russel brand, it's enough to turn me to drink ....

[birchin] 16/4/2011 22:01

I think you mean Britains got talent.

[dreggspicker] 16/4/2011 21:30

not sure if this has been posted b4, don,t think it tells us much more than we already know, but it is certainly beats watching the x-factor ............

[dreggspicker] 15/4/2011 22:45

yep, you can blame the usual bad management, (only allowing to sell the product to the parent company at a low price) plus the unfriendly national peak park that only want the towns and villages of northern Derbyshire to be empty 2nd homes ...... No jobs ... Just commuters and 2nd homes ......... This is Britain ......120 direct jobs gone .........

[godolphin] 15/4/2011 20:09

Sallies are geared up to 120k mt so that's $60m sales. Given the shortage of acid grade then I can see them working flat out this year and maybe reviewing the former expansion plans to 180k mt. That's without Buffalo.
Be interesting to see what the core samples at Zriba produced and whether there's a viable operation in Tunisia.
dreggs - used to produce 75k tonnes a year of acid grade and now we have to pay through the nose. The USA have done the same, closed all their mines and now moan on about China saving their fluorspar for themselves.

[dreggspicker] 15/4/2011 19:19

Acidspar $500 per tonne, come the autumn $700 ? maybe ?
Good time to shut down U.K.'s only producer in Derbyshire ? NOT !!

[godolphin] 15/4/2011 14:13

Prices rising? - you can say that again!

[suits you] 14/4/2011 23:30

Some interesting facts



Since report compiled we know

Prices have risen considerably in 1st 1/4 2011

The Mexican planned increase in production has been curtailed due hurricane damage to the surrounding infrastructure.

TYM still some long way off production and they need finance.

Canada Fluorspar in March with results,

"We anticipate completing the metallurgical testing, feasibility study and pilotplant testing in the upcoming weeks, which may permit CFI to commence construction on its St. Lawrence Project as early as the third quarter of this year."

"The Company is currently in negotiations with a number of potential strategic partners or joint venturers for an equity or debt investment or long-term supply agreements to assist in commencing construction"

The only Fluorspar Co where Firebird have invested but have no seat on the board (yet). Just speculation but perhaps 'current negotiations' may change this.

[godolphin] 12/4/2011 13:52

They'd probably want cash rather than mms shares. Firebird can't control the timings of when assets are for sale, but it may still be available later on in the year.

[dreggspicker] 12/4/2011 13:39

rising mining costs I would think .......

[godolphin] 12/4/2011 12:28

They were producing 100k a year at El Hamman. I wonder why it's for sale. Has a high rare earth content. Must be interesting to Firebird.

[dreggspicker] 12/4/2011 08:14

You have been busy again Suits,many thanks;I have some beautiful fluorite crystal specimens from El Hammam,(I am a active mineral collector) but in recent years the supply has dried up, this could be due to several things one of them could be because it has been mining for a long time, they need to dig deeper, and when a deposit goes very deep there are far less cavities in the vein,which are normally rare events anyway, so it could be a indication that it is getting more difficult to get the ore to the surface (costs more)hence the sale of the mine but rising prices would mitigate this .......

[suits you] 11/4/2011 22:19

Ad Process Strategies grouped Berkh Uul under Firebird management some time ago.



Whilst we sit tight, wonder if anyone has shown interest in



Has to be El Hammam



The only Fluorspar mining operation in Morocco.

Perhaps not in the scheme of things with Firebird at the moment. They seem busy enough.

[suits you] 11/4/2011 21:16

Dreggs

A little on Berkh-uul. As H D suggests, could hive off the parts. Coal to Sharyn gol (another Firebird Co) for example.



taken from

In addition, Mongolia produces more than 90% of the world's fluorspar. In turn, Berkh-Uul Mine is the leading fluorite mine in the country, and one of six ...

www.mongolia-investment.com/mn/news/25.../62-berkh-uul- - Cached

( having trouble with Google on .mn websites, perhaps they have temp blocked google)


Mongolia is a significant world producer of fluorite. With annual production of over 500,000 tons of ore and 180,000 tons of concentrate (chemical and metallurgical grades), Mongolia ranks fourth in the world behind China, Mexico and South Africa in fluorite production. In addition, Mongolia produces more than 90% of the world's fluorspar. In turn, Berkh-Uul Mine is the leading fluorite mine in the country, and one of six mines found in Mongolia.

The Berkh fluorite mine, located 42 miles east of Undurkhan, Khentii aimag, has been in operation since 1954 and annually extracts 30.0 thousand ton of ore from fluorspar deposit. The company Mongolrostsvetmet owned this mine in the 1990s until the mine was privatized in 1999. Today MCS Holding and Petrovis own a majority of shares. At the Berkh district, where the mine is located, there are 24 flourite deposits and more than 60 sites that contain about 2 million tons of fluorspar in total. Nearly all extracted flourite is exported to Russia.


The main activities of Berkh Uul mine are: Fluorspar mining and fluorspar production (6,000 ton), Gold mining (20 kg) and Coal mining (30,000 ton) annually. Since 2005, many foreign companies and investors have been interested in the mine including leading individuals and companies from Canada, France, and Australia.


What is for sure, Firebird now have a majority shareholding. Critical mass and meaningful chunk come to mind.

[h d shoring] 11/4/2011 13:24

Might make sense to hive off the fluorspar to mms and sell off the coal etc to obtain more than the sum of the parts ??.

[godolphin] 11/4/2011 08:43

I wonder if that means Firebird will have to make a full bid for Berkh Uul. Presumably the exchange must have some rules about that.