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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Finnaust Min | LSE:FAM | London | Ordinary Share | GB00BFD3VF20 | ORD 0.01P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 8.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 8.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 26/10/2023 | 07:00 | RNSNON | Bluejay Mining PLC Bluejay to participate in EUR5.6M AIMEX Project |
| 21/9/2023 | 07:06 | RNSNON | Bluejay Mining PLC Video Interview Update |
| 06/9/2023 | 07:00 | RNSNON | Bluejay Mining PLC Video Interview Update |
| 31/7/2023 | 09:30 | RNSNON | Bluejay Mining PLC Video Interview Update |
| 30/6/2023 | 07:00 | RNSNON | Bluejay Mining PLC Placing and Operational Video Interview Update |
Finnaust Min (FAM) Share Charts1 Year Finnaust Min Chart |
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1 Month Finnaust Min Chart |
Intraday Finnaust Min Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 03/4/2017 | 08:35 | Finnaust Mining Plc - Exploring a world class Copper-nickel producing region | 766 |
| 16/5/2016 | 10:19 | Pituffik Titanium | - |
| 29/9/2014 | 15:40 | Increased interest | - |
| 29/9/2014 | 14:44 | All the boxes | 2 |
| 24/3/2006 | 22:57 | forthcoming analysts meetings | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 04/3/2017 21:38 by nohead Hi Richie,If everyone was on the same side of the market there wouldn't be a market, so no worries. I am quite certain there are many junior mining stocks out there that are cheaper than FAM. If you come across any of them be sure to less us know! One thing we all learnt from the mining crash is that none of these junior mining stocks have any value at all unless the assets get into production or, even better, get bought out by a larger producer who can then build the mine. As I am sure you know, the percentage of these junior assets that actually end up becoming a mine is minuscule. Project financing usually ends up being the road block to high valuation, but high capex, junior mining projects. We know in the ilmenite space there are large buyers out there for good quality assets. Majors/producing mid-caps look for high grade and long mine life (so they can ride out the commodity cycles). They also look for stable mining jurisdictions, and Greenland seems to be pulling our the stops to prove itself in this respect. The positive comments of the mining minister the other day reduced permitting risk for this project in our view. The low capex on this project therefore makes it particularly attractive. It could be reduced further if they decide to out-source major production functions such as dredging, the processing vessel and transshipment/storag The Feasibility Study and exploitation application are time-lined for around six months after the maiden resource, so the Minister was correct when he described this as a "mature" project. We are also hoping to get more information on developing the other assets in the company, which also ought to add value (as far as we can tell, the market is not ascribing any value to them at present). The release of the resource followed by the economic model will firm up the valuations, that are probably more in the 18-23p range at this stage of the project in our estimation. While that doesn't necessarily mean the share price will get up there immediately, I would say downside risk is negligible at this point and the prospects for the shares this year is great, backed by fundamental valuations. What one of the other posters says is correct, in that the company is planning to bring more institutions onto the share register after the resources are out. Souvalki sounds great. Very jealous of you on a particularly cold night here in the UK! n NB squiresquire, thank you for your kind words. |
Posted at 04/3/2017 15:27 by nohead Ritchie,I read through your short-seller note last week, and sent it to a couple of others. It is always good to get and alternative well-written view, and so thank you. Two of your main concerns, expressed in your report, have since fallen away; namely the need to raise near-term working capital, and any issues that could complicate the acquisition of the remaining Blue Jay shares. This leaves your principal concern, that the stock is over-valued relative to the stage of the project. We came into the placement and have seen a number of valuation models, sensitivity analyses, and also ran some numbers ourselves. All the valuations are much higher than the current share price, ie 14p+, which includes substantial risk discounting. Once the project is de-risked the valuations become much higher, in fact a multiple of this target. This is principally because the capex and opex are so low, and they are likely to achieve a high price for this product in the market. We will have to wait for the maiden resource, but all the indications are that this is one of (if not the) highest grade ilmenite projects in the world, and it could have a very long life of mine. The 7p placement was significantly over-subscribed, and we were scaled back along with everyone else. We know some of the others that took part in the placement, who are experienced resource investors, both high net worths and institutions. I don't think any of us can see how you could have possibly arrived at your valuation of 3p? |
Posted at 24/2/2017 21:42 by snowyflake I assume from what you have written mac that the announcement may be made in the earlier part of March rather than the later part. My assumption stands to be corrected. I have to say that it has been quite a wait given the fact that the board had previously announced that the JORC would be released by year end 2016.From words used in a previous RNS or two, I anticipate a resource that is truly world class. I was a shareholder in Sierra Rutile which mines rutile, some ilmenite and zircon which Iluka bought in 2016 (completion tail end 2016). Iluka paid the equivalent of a SRX share price of 36 pence for each SRX share which together with SRX debt equalled a market cap of £250 million. I made a big mistake earlier on in my ownership of those shares in that they reached over 80 pence at one point in 2012 so that SRX was valued at over £500 million. I was a silly billy not to sell then in hindsight! The problem with SRX is that it struggled to make a profit in many years; it had to invest in new mines and had a very large workforce. It is no secret that it hit two very big snags. First a downturn in the price of rutile; second the arrival of Ebola the effect of which is well documented. And that was after civil unrest in the mid noughties. I and others felt that Iluka got SRX cheaply. It may be that the cornerstone investor which helped turn SRX around namely Pala Resources were for reasons best known to their board anxious to sell. It is however worth drawing some comparisons between SRX and FAM. FAM will not need mines per se. It should be easier to extract the sands and ilmenite. The SRX latest mine (Gangama) cost circa £40 million. FAM will not need a workforce the size of that of SRX. FAM in my opinion operates in a less difficult environment albeit over a more limited timescale in a year. Rutile prices had just started to recover; rutile and ilmenite prices are in an upward graph. So yes Mac, whilst you say that the company needs institutional buyers who will be comfortable buying with third party verification, I think that if the JORC resource is good enough they will be queueing to buy. You never know the value for Pituffik may approach £500 million - I must not get over excited - certainly in my view £250 million or at 730 million issued shares post the GM 34 pence per share could be a possibility in due course or 4X the current share price. That is of course without the company's other assets - Finland and Avannaa. A definite but what ever someone has to say. |
Posted at 22/2/2017 16:40 by richie666 Billy - I have a quick question for you, if you don't mind taking the time. Do the directors still have significant skin in the game and would it be typical for the likes of share price Angel to take a long term stake in a company?ANSWER - The directors here take a decent six fig salary and have turned a buttons (relative) investment in Bluejay into tens of millions & which is way out sync with other resource co's at comparable stages of development (no JORC estimate). If they sell 1 share they'll likely crater the stock elevation and so are, to all intents & purposes locked in - sadly for many major stakeholder directors that is the way. But, that is why the others that have been able to sell freely and, non discloseably selling, is a major smoke signal to me. Ref share price Angel - I can only say that here at Align if we believed the shares worth 15p we would not, I posit, be selling at 4.54p. That is completely against our approach and is why we operate the way we do. What would be even more interesting however is to ascertain if they have sold their 1m shares they exercised via warrants today. If so then I believe we have a fait au complit. There's non so blind as them that cannot see... That's me done for today! |
Posted at 22/2/2017 16:03 by billytkid2 This is an interesting message board. I have been catching up with some of the previous comments as I recently bought into the stock in a relatively modest way at 7.1p. Richie I can see you perform in depth research and know your stuff. Although major stock holders selling down is often a bad sign, I think we can offset some of that given the major rise in the share price. I have a quick question for you, if you don't mind taking the time. Do the directors still have significant skin in the game and would it be typical for the likes of share price Angel to take a long term stake in a company? |
Posted at 22/2/2017 11:29 by squiresquire Surely you are talking about more profits being taken. Why is that so wrong in a rising share price? We know the JORC is about to be announced very shortly now, again what is the problem with that. To me it seems the company is steaming ahead very well indeed...and the share price!! |
Posted at 21/2/2017 13:30 by richie666 This is all I needed to see gents -As at the date of this document, share price Angel did not hold any Ordinary Shares, but has an interest in warrants to subscribe for Ordinary Shares as follows: And this - On market disposal of Ordinary Shares (SP Angel) 1,584,244 4.54 pence 3 May 2016 As a betting man I'd bet these are being sold too: "As at the date of this document, share price Angel did not hold any Ordinary Shares, but has an interest in warrants to subscribe for Ordinary Shares as follows: Grant date Expiry date Exercise price per Ordinary Share No. of Ordinary Shares 4 March 2016 4 March 2017 2 pence 1,000,000 4 March 2016 4 March 2018 4 pence 1,000,000 4 March 2016 4 March 2019 6 pence 1,000,000 15 April 2016 15 April 2021 2 pence 625,000 8 December 2016 14 December 2021 7 pence 2,165,357" Now ask yourself why the broker to the co would be selling stock whilst putting out a Buy recommendation? THAT illustrates to me (a) precisely that they do not believe the valuation and (b) that our model at Align of 6 months lock in from a Buy recomm is pretty unique and really only the believable offering out there. If u still holding on in this free float squeeze exercise u are beyond mad Mark. |
Posted at 22/12/2016 12:12 by maccamcd cheers Pat.. I've been very quiet the last month. Inside on the placing, so obviously couldn't comment.some points about the placing: The Institutional investors did significant due diligence on the company, the management, with Local Greenland Govt officials, the asset potential.. and getting comfortable with the risks around the investment. If you check the recent holdings RNS.. you'll see an institution who very recently closed a very lucrative declared 'short' in Paysafe, are now invested in FAMily. it's comforting to have very smart investors on board!? Raising £8.5m with a list of about 20 existing/new investors.. more Tier 1 Institutional meetings being lined up for January/Feb to beat the drum and soak up any lose stock is confirmation of what we all knew.. but a nice verification of the potential. we can all sleep better. Attracting Mirabaud on the ticket who are specialists in Natural resource companies and their assets/potential. Bear in mind Mirabaud have raised $1bn for Kenmare over the years.. so any future funding needs to progress the other ASSETS we own shouldn't be a problem. They only got involved as they can see the journey, the kudos being involved in a money making opportunity for their investors, and for the comm it will generate for them as the company progresses its world class assets! SP Angel did a fantastic job also.. put the company in front of many institutions. Some who will invest as the company derisks itself.. we are now on some good radars. You all noticed there wasn't really a discount on this placing?? that's because the brokers/investors agreed 7p was good value and fair. Hopefully a good base to push on from with lots of news flow promised in Q1. Reducing WA Down to 19.99% was the plan.. apparently that suits them, and no other sales are expected (unless at multiple higher prices?) no idea.. but they shouldn't be considered a 'overhang' some bunff from the Mirabaud Buy note: "Based on the above we calculate a post-tax NPV8 of US$116.6m as a result of the mixture of our three different campaign mining period scenarios (see table below). On top of the risk factor for each scenario (likelihood to happen) we apply to our Pituffik sum-of-the-parts valuation a 50% risk adjustment in recognition of the risks to the early stage of the project. " Valuation (£p/share) 0.14p so this is a 50% conservative discount.. The valuation is using very conservative inputs.. if FAM do the size/grade/pricing that is the whisper numbers.. the share price valuation is more like 96p !!!!!!!!!!!!!!!! BOOM BOOM. Happy Christmas to you all.. hopefully 2017 will be just as profitable to you as owning FAM was in 2016. Peace to all men (including Richieboy!) |
Posted at 08/12/2016 16:57 by arthurdaley69 FinnAust Mining plc ('FinnAust' or the 'Company')Placing to raise GBP8.5 million FinnAust Mining plc, the AIM listed exploration and development company with projects in Greenland & Finland is pleased to announce that it has successfully raised GBP8.5 million from the issue of 76,428,572 new ordinary shares of 0.01 pence each in the capital of the Company ('New Placing Shares') and the placing of 45,000,000 existing ordinary shares of 0.01 pence each in the capital of the Company ('Existing Shares') at a placing price of 7 pence per share (together 'the Placing'). Both new and existing investors were procured by the Company's brokers share price Angel Corporate Finance LLP ('SP Angel') and Mirabaud Securities LLP ('Mirabaud') who were appointed as placing agents. The Placing was significantly over-subscribed. The Existing Shares were made available to investors by Western Areas Limited ('Western Areas'), the largest shareholder of FinnAust. The gross proceeds of the issue of the New Placing Shares is GBP5.35 million. The net proceeds of the Placing attributable to the Company (being approximately GBP5.05 million after fees and expenses) will be used to accelerate the development of the Pituffik Titanium Project, the Company's flagship ilmenite project in Greenland. This will include a proof of concept bulk sample, completion of the Feasibility Study and completion of the exploitation application process in 2017. Other work programmes will include the finalisation of the Environmental Impact Assessment ('EIA'), the Social Impact Assessment ('SIA') as well as on-going detailed metallurgical and engineering work. Activity will also include the maiden resource statement for the Pituffik Titanium Project, which is expected in the first quarter of 2017. The Pituffik Titanium Project has demonstrated the potential to be one of the highest mineral grade ilmenite projects in the world. With this in mind the Company's primary focus is on delivering a significant proof of concept bulk sample in 2017. The Pituffik Titanium Project comprises three main target areas along more than 80km of coastline historically proven to contain large and high-grade accumulations of primary ilmenite, with mining in Greenland envisaged to be achieved via a low capex dredging operation. FinnAust's Managing Director, Roderick McIllree said, "This fundraising was well supported and I'm pleased to welcome new, strong institutional shareholders to the Company that share our vision. We are pleased with the progress made to date and remain confident of delivering our stated goals. With the maiden resource for the project due in the first quarter of 2017, we continue to be of the view that the Pituffik Titanium Project will soon be recognised as a globally significant ilmenite deposit both in terms of grade and tonnage. "We would like to thank our major shareholder Western Areas for confirming their continued support to FinnAust whilst allowing the Company to bring on-board new institutional shareholders to deepen the share register, with limited dilution to existing shareholders at this formative stage." Western Areas' (ASX ticker "WSA") Chief Executive Officer, Dan Lougher, commenting on the transaction said, "Western Areas is delighted with the progress Rod and his team at FinnAust have made in advancing Pituffik towards full commerciality. We have reduced our holding to 22.85% to accommodate the inclusion of some high calibre new shareholders. We also confirm our long term commitment to continue as a cornerstone investor in the Company as we look forward to the very positive future that the Pituffik asset presents." Bluejay Consideration Further to previous announcements by the Company, deferred consideration of 40,755,885 new ordinary shares of 0.01 pence each in the capital of the Company ('Deferred Consideration Shares') is payable to the vendors of Bluejay Mining Limited ('Bluejay') upon: -- Bluejay being granted a mineral exploration permit over the offshore Pituffik project area; and -- the issue of the Deferred Consideration Shares not triggering a mandatory offer pursuant to Rule 9 of the Takeover Code. On 13 July 2016 the Company announced that it had been granted an extension of its existing licence to include all minerals within the shallow marine environment at the Pituffik project area ('Offshore Licence Grant'). As a result of the Offshore Licence Grant and the issue of the New Placing Shares, the Company was obligated to issue the Deferred Consideration Shares. Accordingly, the Deferred Consideration Shares were issued to the vendors of Bluejay on 8 December 2016. Roderick McIllree and Gregory Kunzel, both Directors of FinnAust, are amongst the vendors of Bluejay. Further details concerning the issue of Deferred Consideration Shares to them is set out in the table below and at the end of this announcement: |
Posted at 25/10/2016 10:38 by rampair Sierra Rutile released their Q3 results- and it comes as no surprise to see figures up firmly, to those shareholderswho believe Iluka got a bargain... "Sierra Rutile continues to produce ilmenite in line with customer demand." Quarter on quarter growth of 40% of ilmenite, up 30% on 2015 Q3 - clearly ilmenite demand is strengthening. Albeit Sierra produces mainly Rutile, & are under a recommended offer from Iluka. Metalysis a South Yorkshire based private company - Specialising in Powders for 3 D Printing received recently monies from the Woodford fund and Iluka (bidder for Sierra). Metaysis use Rutile & synthetic Rutile ( Ilmenite put through the chloride process) to make specialist alloys. Airbus have now started using 3D Titanium based printed parts. Capital cost for the Pituffik project- with no Front end engineering needed, because a Glacier has done it for you, Royal IHC can Dredge up what would, if it was a hard rock Mine a product already gone through a costly set of machinery, no blasting, no haul trucks, no ball,cone or any other type of crushing needed. Back to that $60m, could it be possible that a mineral sand project of this size can attract partners who could lease high cost machinery, thereby not having the capital cost on the balance sheet of FAM? Considering the processing cost in the share price Angel note is a fair bit higher than competition - maybe a higher processing cost is linked to a Capital cost being centred elsewhere- this is simply a guess, but it happens in many projects that - for example Haul fleets are leased as are accommodation & many other things? I don't have my anticipated full holding as it's sensible to de risk on the way through projects of this type, however, FAM is attractive to me as a PI because it's easy to understand, the website is very comprehensive- but partly because I can see value in the Avanaa resources. If you study the large amount of data on the two main projects - you can see that they have a significant potential in their own right. As a junior company, to have the possibility of a world class Titanium resource - (reading GEUS' report )& then, a pair of excellent projects that are effectively given to FAM holders free. If you think of those as options, it makes FAM shares attractive in my opinion. Regarding large resources that no one believed would get going, SXX - Sirius Minerals with its potash project has defied all predictions and managed to get planning for a mine in the North York Moors National Park. It has a way to go and their technical issues bear no comparison, just the fact that people were saying it could not be done, It appears to be doing just that. So, we have an example of two lots of Yorkshire folk beating the odds, 2/3 ain't bad.... Greenland is very keen to attract new industries & make the place attractive to companies prepared to take on the challenge of the climate, clearly you have to concentrate on the months of full daylight and plan your campaign accordingly, but It's far from impossible. R. DYOR |
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