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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ferrex | FRX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.45 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.45 | 0.45 |
| Top Posts |
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Posted at 04/12/2015 07:20 by andylee3 Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining4 December 2015 Ferrex plc ('Ferrex' or 'the Company') Work Commences at Australian Gold Production Project Ferrex plc, the AIM quoted resource development company, is delighted to announce that following the acquisition of a five year tribute agreement, to mine certain defined gold deposits located on the leases owned by Norton Gold Fields Ltd a subsidiary of Zijin Mining Group Co., Ltd ('Norton') to mine in the heart of the Western Australian goldfields, initial fieldwork has commenced. This is in line with its goal to commence initial gold production of 20,000 to 30,000 ounces per annum in Q2 2016. A detailed land survey is currently being undertaken to assess the existing drill holes and previous mining operations, which have historical resources of 5,741,155t at 2 g/t of gold for 363,599 ounces. The survey will be used to finalise an initial, high priority, in-pit grade control drill programme before the end of December 2015. As part of Ferrex's mining development plan it will initially target shallow laterite and oxide deposits to generate near-term revenues. The deposits comprise previously mined pits with remnant economic material below the pit floor, previously unmined near-surface deposits and other high-grade underground opportunities. Ferrex Managing Director Mr. Dave Reeves said, "With limited work and capital required to commence gold production in Australia, we have hit the ground running in line with our target of delivering first production in Q2 2016. A small-scale drill programme is set to start ahead of the New Year to formally confirm the grades identified as part of the historic resource of over 350,000 ounces of gold. This will provide plenty of newsflow in Q1 2016, and we look forward to updating the market with this in the near term." |
Posted at 18/11/2015 22:54 by discodave4 Warning to all FRX posters - Don't believe a word daniel Miller says, this person is a sicko troll of the highest order.He only knew that Cyprus Steve was invested here because somebody posted that info on another board. The very day this info was posted (5th Nov) the sick degenerate used Steve's passing as an excuse to make out he had tipped ALO to him weeks ago and suddenly he was posting on here and the ALO board making out he invested out of respect for Cyprus Steve. Danielmiller is a self confessed liar and fantasist.He is now using another persons death (and alleged friendship) to ramp ALO stock on other boards - the lowest of the low.Why should anybody believe me? - just take a look at some of Danielmiller's historic posts and I think you will see what this person is truly like. |
Posted at 17/11/2015 08:41 by hope67 RNS Number : 9068FFerrex PLC 17 November 2015 Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining 17 November 2015 Ferrex plc ('Ferrex' or 'the Company') Acquisition of Gold Mining Company in Australia and Strategic Review Ferrex plc, the AIM quoted resource development company, is pleased to announce that it has entered into an agreement to acquire 100% of Australian private company Chaffers Mining ('Chaffers'). Chaffers has negotiated a five year tribute agreement with Paddington Goldfields, a subsidiary of Norton Goldfields ('Norton') to mine certain defined gold deposits located on the Norton leases, located 30km north of Kalgoorlie in the heart of the Western Australian goldfields, for treatment at Norton's nearby Paddington processing plant. The acquisition will enable Ferrex to commence production and cash generation with only working capital expenditure in Q2 2016. The funds delivered will be used towards the development of the Nayega Manganese Project ('Nayega') located in Togo upon receipt of the mining permit. This acquisition follows a recently completed strategic review by the Company focused on how to best deliver rapid value to shareholders in the current commodity pricing environment. Overview · Low acquisition cost, cash generative mining opportunity in a geographically stable mining jurisdiction: o Production targeted to commence Q2 2016, initially targeting 20,000 to 30,000 ounces per annum o Agreement covers historic resources of more than 350,000 ounces of gold at a grade of 2g/t o Mining leases granted - deposits comprised of remnant resources below historic pits and previously unmined near-surface deposits o Limited working capital costs to commence production estimated at GBP300,000 o Leases located 25km from the mill in an area of excellent infrastructure o Ferrex to pay mining and processing costs, plus 22% royalty on gold recovered to Norton · Low cost consideration and addition of highly experienced mining personnel to Board and management which will add further significant and relevant skills to Ferrex o Consideration of £465,000 in shares at a deemed price of 0.5p to acquire 100% of Chaffers, additional £465,000 in shares on production of 10,000 ounces of gold at 30 day VWAP to announcement of successfully completing this milestone o Chaffers executive Peter Hepburn-Brown to be appointed as a non-executive director of Ferrex and Chaffers Non-Executive Director Peter George to be appointed as Chief Operating Officer · Strategic Review of current assets completed with focus directed at adding value for shareholders through near-term, low cost, compelling production opportunities o Acquisition of Chaffers fits these criteria o Continuing to develop Nayega as a low cost manganese export mining operation with a view of production within nine months of receipt of the Mining Permit, due imminently o Evaluating opportunities to realise value or monetise non-core iron ore portfolio, located in South Africa and Gabon, through joint ventures or trade sales Ferrex Managing Director Mr. Dave Reeves said, "It is very rare to find an opportunity which can deliver production in under six months from acquisition and therefore I am personally very excited about this project, which fits our goal of rapidly delivering cash flow at a low cost. Gold production will commence at 20,000 to 30,000 ounces per annum, the cash flows from which will be used towards the development of the Nayega manganese project in Togo when the permit is received. With our focus firmly on producing cash from these gold assets for the next six to nine months, I have no reason to believe that the Nayega permit will not be fully granted when we have the time to turn our attention to developing this as our next cash producing asset. "In light of the continued depressed iron ore pricing environment we have been investigating various projects that fit the criteria highlighted above and continue to do so. The appointment of Peter Hepburn-Brown to our Board and Peter George as COO will bolster our mine development expertise and can be leveraged both in terms of this new acquisition and any future ones. This experience will be highly beneficial as we closely plan our next steps at the Norton leases in Australia and we look forward to reporting these plans to the market." |
Posted at 17/11/2015 07:23 by oilbuy Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining17 November 2015Ferrex plc ('Ferrex' or 'the Company')Acquisition of Gold Mining Company in Australia and Strategic Review Ferrex plc, the AIM quoted resource development company, is pleased to announce that it has entered into an agreement to acquire 100% of Australian private company Chaffers Mining ('Chaffers'). Chaffers has negotiated a five year tribute agreement with Paddington Goldfields, a subsidiary of Norton Goldfields ('Norton') to mine certain defined gold deposits located on the Norton leases, located 30km north of Kalgoorlie in the heart of the Western Australian goldfields, for treatment at Norton's nearby Paddington processing plant. The acquisition will enable Ferrex to commence production and cash generation with only working capital expenditure in Q2 2016. The funds delivered will be used towards the development of the Nayega Manganese Project ('Nayega') located in Togo upon receipt of the mining permit. This acquisition follows a recently completed strategic review by the Company focused on how to best deliver rapid value to shareholders in the current commodity pricing environment. Overview· Low acquisition cost, cash generative mining opportunity in a geographically stable mining jurisdiction:o Production targeted to commence Q2 2016, initially targeting 20,000 to 30,000 ounces per annumo Agreement covers historic resources of more than 350,000 ounces of gold at a grade of 2g/to Mining leases granted - deposits comprised of remnant resources below historic pits and previously unmined near-surface depositso Limited working capital costs to commence production estimated at GBP300,000o Leases located 25km from the mill in an area of excellent infrastructure o Ferrex to pay mining and processing costs, plus 22% royalty on gold recovered to Norton· Low cost consideration and addition of highly experienced mining personnel to Board and management which will add further significant and relevant skills to Ferrexo Consideration of £465,000 in shares at a deemed price of 0.5p to acquire 100% of Chaffers, additional £465,000 in shares on production of 10,000 ounces of gold at 30 day VWAP to announcement of successfully completing this milestoneo Chaffers executive Peter Hepburn-Brown to be appointed as a non-executive director of Ferrex and Chaffers Non-Executive Director Peter George to be appointed as Chief Operating Officer· Strategic Review of current assets completed with focus directed at adding value for shareholders through near-term, low cost, compelling production opportunitieso Acquisition of Chaffers fits these criteriao Continuing to develop Nayega as a low cost manganese export mining operation with a view of production within nine months of receipt of the Mining Permit, due imminentlyo Evaluating opportunities to realise value or monetise non-core iron ore portfolio, located in South Africa and Gabon, through joint ventures or trade sales |
Posted at 12/11/2015 19:09 by skippybragagnolo Jagz,The next post from me can be whatever I want it to be.I'm still waiting for that news you promised would arrive last week....And I don't email CEO's, it's a pointless task. If there was anything of substance that they could tell you they'd release it in an RNS.Just to be clear, I'm a fan of the management team in place at FRX and I believe they are more than capable of taking the company into production, as they have proved in past projects. However, I am of the opinion that working with the authorities in Togo is proving to be more difficult than they could have foreseen. I am aware that this isn't the fault of FRX but it is nevertheless a concern and has resulted in the ongoing decline in the share price so clearly the market agrees.I sold out when the AA deal fell through- again not the fault of FRX but where money's concerned my decisions are based on all factors whether or not the company has any control over them. Based on discussions with other investors some remained invested due to blind faith in the management- a mistake that has so far seen the value of their shares decline by over 50% since the collapse of the deal, not to mention the losses they had already incurred prior to that.For the sake of long term holders I genuinely hope that there is a sudden flurry of positive news about the licence and funding etc but I would also urge caution to anyone considering buying in or 'averaging down' at this point.My issue with people posting reports of conversations with the CEO is based on the fact that it has been going on for ages and nothing changes. He has apparently been saying that good news was just around the corner for years. It is my belief that private investors interpret these conversations to support their investment decision and that any such posts should be taken with a pinch of salt. The most realistic is the statement that people need to be patient- which goes without saying really and as I said above is pointless. We already knew that.With regards the CEO stating a 3p target- I still don't believe that, at this stage, given the poor performance of the SP, he would do that in any kind of public forum or during conversation with a private investor. Not given that he's so heavily invested himself, it would be grossly unprofessional and I don't think that's in his nature.If I'm wrong then so be it, it happens. I'm certainly not going to email Dave to try to prove a point.As I said, I hope for the long suffering long term holders that good news is just around the corner but I suspect there is longer to go yet- probably next year for the licence now.Jagz, you are welcome to counter with an investment case at the current share price but please try to make it a sensible argument, I'm always open to having my opinion changed. None of these daft statements about me trying to be a big man or that news is definitely coming this week, we're not at school. |
Posted at 07/11/2015 09:17 by chimp999 RIP Cyprus Steve..Like many on here I shared email comms with Steve....In fact I hold FRX thanks to Steve's tip. I invited Steve to drop by if ever he was on the English South coast, sadly that will never happen. I had no idea he was ill. You are sorely missed by many Steve... Could anyone, maybe PALEJE pass on on my condolences to Steve's friends and family...what a nice straight forward guy who wanted others to enjoy his stocks and shares knowledge... 999 |
Posted at 05/11/2015 06:20 by skippybragagnolo Thanks Paleje, much appreciated. I've copied your post onto the FRX thread on LSE, there's a few there that appreciate the info.Thanks again. |
Posted at 23/9/2015 05:09 by cyprussteve Hi guys,Nothing new in the links above, but for those researching FRX for the first time, the excellent track records of the BOD leading to previous massive TO's and their personal high shareholdings are indicative. News on Togo and possible deals must surely be close. Market cap still only £6m. Regards , Steve |
Posted at 17/2/2015 17:14 by danielmiller1 In my experience those approached to provide funding for any project will always consider, without fail the history of those involved with such requests. Please note this is a general rule and not FRX specific.Unfortunately FRX's Chairman has a questionable tract record in financial/general management which would not sit to well on any lenders table for consideration. However, imagine the senario of approaching lenders with a full pack for a non problematic FRX together with the ability of the example to point to another PLC which is under the control of the same Chair and running like well spread Kerrygold on hot toast. This would surely impress and be delightfully persuasive to any lending consortium......an established up and running example of what is achievable. Sadly the Chairman's involvement with GDP looks like the teapot spilt on the toast before the Kerrygold even had a chance to get spread. There is no doubt that FRX has a lot going for it, but remains a high risk play, but nevertheless a play with a huge potential. At this critical stage in the development of FRX's massive potential, I would have thought the need for mirror smoothness over any hint of a rough, probably uncutable, diamond would certainty be highly disadvantageous! |
Posted at 09/8/2014 07:19 by cyprussteve Good morning guys,.I copy a posting below from a few weeks ago - with no apologies for doing so, as I consider it represents probably the best posting analysis I have read of FRX, from someone who clearly knows what they are talking about - offering both pro's and con's of FRX. I am posting again as it may be of interest to those looking at the FRX Board for the first time. Have a good weekend all, Steve 5teadyEddie 1 Aug'14 - 11:34 - 4029 of 4070 A few thoughts to add to the pie: a) The Counts' posting above demonstrates that (i) the majors are retrenching(ii) there will always be a market for good assets in the right locations both relevant points for Mebaga and Malelane; b) It appears that the 'binding' term sheet was generally read as a binding contract, whereas it turns out that only the terms were binding but its implementation wasn't. c) I have met DR many times, including a couple of personal sessions with him, and I rate him as one of the most honest business people I've ever dealt with; d) He has far more to lose than anyone else: my guess is that he's borrowed up to the hilt to fund his shareholding; e) He is ambitious and conscientious and hardworking: he is one of the few CEOs to respond promptly to small investors, for example; f) Key to FRX as an investment proposition is that DR, Roy Pitchford and Russell Lamming have done this before (though I think RL is tired of Africa and DR and RP are the key players). In previous existences they pushed projects through to production, so FRX doesn't need the skillset of a major, it just needs project finance; g) Nayega, Mebaga and Malelane are still excellent properties, each being better than those in many AIM companies. I am certain that funding is already agreed for Nayega and will be announced as soon as the Mining Licence is granted. It would not be a surprise if South African based project funding for Malelane is announced in the next few months; h) The acquisition of the properties shows that FRX can punch well above its weight. There is no reason why a fourth or fifth significant property cannot be added DR is always on the lookout (IMO Leinster is valueless because of a lack of a rail link); i) The management at FRX can be said to be very unlucky over AA and the Togo governments decision to rewrite its Mining Code which has stalled Nayega, though this is contentious. Do managements make their own luck? Or is there something about certain individuals style which makes them very good at acquiring assets but ultimately kills the projects? This is the issue which worries me most: that essentially FRX might be going into negotiations for JV's or partnerships or licences but its style demonstrates to the counterparty that it will be very difficult to work with. It is possible to lose a great deal of money backing managements with great assets but the inability to deliver. My personal judgement is that this is not the case: that in fact FRX has just been unlucky. But this judgement is always under review. I have lost money but continue to hold all my shares. j) I should add that I have not spoken to or emailed DR for some months and have no inside info. |
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