Ferro-alloy Resources Share Discussion Threads

[ttlance] 01/3/2023 23:38

I agree that NB has to go but things will need to get a lot worse before that happens. Unfortunately that’s how it is. He’s a complete liability and never delivers. Listening to his interviews it comes across as though he’s a walkover and spouts off all these positive projections only to provide an excuse as to why they haven’t been achieved. Example incase was the riots in kaz, rns was announced to say that this has no impact on the business and then the following rns mentioned that was one of the reasons why the plant struggled with supplies!

[jailbird] 01/3/2023 20:47

So why did NB embark on this before BFS?Keep himself in a paid job at the expense of shareholders ?You cannot deny he is milked this pilot plant and failed most of not all deliverables Can he not be removed as he is the problem

[t_headder] 01/3/2023 20:45

I heard the 'pilot plant' was built as a pilot plant to prove the processing technology but was then converted to recycle catylitic waste as the process is similar. The reason being the cash flows could be used to obtain 70M$ of bond financing. Then COVID disruptions vanadium devaluation and the war happened along with not enough money being raised at IPO for contingency. I sure hope to hear everything is finally running smoothly in the next update.

[cyberbub] 01/3/2023 20:41

Correct jailbird they don't. Your point is?

[ttlance] 01/3/2023 19:29

Jailbird-NB sold it to mick Davis by stating that the pilot plant has significant expertise and talent and will be a huge benefit for when the main plant is up and running. I’m guessing with all NBs promises that the plant will be profitable in the near future with no further shareholder dilution, MD saw it as a good plan. The problem is NB never delivers and Mick Davis is probably rethinking his investment now

[jailbird] 01/3/2023 18:55

Cyber Genuine question Do all mining projects construct pilot plants prior BFS?Afaik not all do. But trying to understand why a pilot is necessary before a project has been proven to be feasible both economically and financially.

[ttlance] 28/2/2023 17:12

This is all about the current operational plant and the likelihood of further shareholder dilution. With phase 1 being 4 years away, far needs to be in a positive fcf situation. Can’t help but think NB is going to release further bad news regarding the plant. Engineering works not completed and issues with supply of raw materials. The stock market is very efficient and it’s clear this is the narrative.

[t_headder] 13/2/2023 11:28

Not exactly a rigid chart though, is also market sentiment to consider, given the modular build of ferro's phase 1 and if as I expect a offtake gets done for the carbon black substitute the 'orphan period' should be substantially higher than current price due to less dilution having taken place. I see the period now as a topping up opportunity and have added 4k over the last week though so call me biased.

[jailbird] 12/2/2023 22:33

https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/

[jailbird] 12/2/2023 20:17

Disagree with all of that The lasso curve only takes off after BFS and funding agreements

[thomas11] 10/2/2023 17:51

In terms of a delay to the project, in the last interview with NB he makes it clear they have spent over a year re-drilling the resource “to find out what we already knew”. NB has also spent years building the pilot plant to prove he can process the black shale. The new FS is absolutely a delaying tactic by MD to keep his options open until the VRFB market is really taking off IMHO.

[thomas11] 10/2/2023 17:45

Jaibird, I agree that VRFB was not the primary reason for the project initially when NB was running the show. However MD has made it clear that his Bluevision investments are for green energy transition hence his investments in Lithium, Graphite and Vanadium,

If VRFB does not take off as expected then I doubt MD will invest any further in FAR and we will be left with NB, who is inept as you say.

I believe it is this that is holding back the share price at such low levels until MD states he is 100% behind FAR by making that next purchase at 78p (if I remember correctly)

Time will tell, I have checked out Invinity(VRFB manufacturer) recently and it supports my view that VRFB is taking longer to get a hold in the market although sales are still increasing and interest is still there.

[jailbird] 08/2/2023 19:50

You are wrong VRFB was never the primary reason for this Vanadium project So you think he is delaying the process on purpose , hence been dishonest over the last year .Inept in delivery , yes for sure and probably exaggerates the truth

[driver101] 08/2/2023 17:09

T11
That maybe the case but Vanadium is a Commodity that is used and needed worldwide and will always have a market.

[thomas11] 08/2/2023 16:01

Interesting interview, is 2023 finally going to be the year the Sp moves ??? Should quadruple income this year from the small processing plant with twice as much concentrate and twice as much value per tonne due to new equipment ! We shall see

It is now very clear that MD had a strategy of delaying further investment until it is clearer that Vanadium batteries were going to be the future technology of choice. NB was honest to say that the ramp up of Vanadium batteries is slower than expected and there is a risk that they not become the established technology of choice for energy storage.

By the end of this year MD should have a much clearer picture on whether to invest further in FAR.

[ga_dti] 08/2/2023 08:19

Latest CEO interview. Nick updates on the planned expansion of the existing processing plant and the receipt of Kazakhstan grant funding -

[driver101] 01/2/2023 20:19

Cheers Cyber, I am still adding on the dips didn’t foresee it at this bargain price.
The RNS was ok by me steady as she goes.

[cyberbub] 31/1/2023 23:44

Some of us have day jobs :-) I usually post on Telegram these days.I thought the RNS wasn't great but not that bad. Progress is still being made with the pilot plant and it's expected to make a profit this year, I think this is credible, although of course the company doesn't have a great track record of delivery. Revenues were up 44% despite the interruptions to supply. Loss increased by 17%, probably due mostly to capital purchases like the new oven mentioned. The company appear to have cash for most of 2023 even if revenues stay the same - if they increase as planned then hopefully cash will last into 2024 by which time we should have the BFS and final funding packages agreed.See you in 6 months!

[ttlance] 31/1/2023 15:32

No response from cyber, so must have resided to the fact that it’s not great considering he is ultra positive…

[ttlance] 30/1/2023 12:26

Yes the cash burn is shocking, with 2023 likely to see a significant loss. Makes we wonder whether VBR will pull out.

[jailbird] 30/1/2023 11:59

Look at the cash burn They will more cash very soon Single digits coming

[ttlance] 30/1/2023 11:51

The pilot plant is becoming a nightmare and totally agree is now a millstone around FARs neck. The purpose was too:
Ensure skilled staff could be transferred for when phase 1 is operational and also use the fcf for ordering long lead time engineering works. Also it was to ensure good loan terms for phase 1 construction.

NB is a liability and never delivers, he has a constant track record of this. There is a pattern in all the RNSs that a resolution will be in 2 to 3 months only for another issue to crop up. Makes you wonder how FAR will build the complexity of a much larger plant if they can’t even get this processing plant running efficiently!