We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ferrex | LSE:FRX | London | Ordinary Share | GB00B649J414 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.45 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 0.45 | GBX |
Ferrex (FRX) Share Charts1 Year Ferrex Chart |
|
1 Month Ferrex Chart |
Intraday Ferrex Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/12/2015 | 15:10 | Ferrex Plc - Iron Ore + Manganese | 4,900 |
| 01/9/2014 | 20:38 | A rally for FRX ! | 5 |
| 09/12/2013 | 13:06 | discussions of CASH OFFER of 25.75p | 39 |
| 14/7/2013 | 12:38 | ( madness ) What's Going On ? | 15 |
| 30/5/2013 | 10:27 | At least 12million profit | 36 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 19/11/2015 21:13 by hope67 Posted on lseBuy the unloved Ferrex on its Aussie gold deal, says Robert Tyerman Unloved West African manganese play Ferrex (LSE:FRX) is to pay up to £930,000 in shares to buy into gold production in Western Australia. The company intends to follow that with another ‘higher value’ deal before the end of the year. The UK-based company, whose shares have fallen from a 2011 AIM float price of 3p to 0.45p now, is to buy Chaffers Mining, a private gold mining concern which has a five-year agreement to mine the yellow metal at Paddington in the West Australian goldfields for Norton Goldfields, part of Zijin Mining, China’s largest gold producer. Chaired by ubiquitous sector veteran Brian Moritz, Ferrex, now sporting a stockmarket value of £44 million, is making this move after making a strategic review, described by chief executive officer Dave Reeves, as ‘a long hard navel gaze’. Reeves, an Australian mining engineer and former luminary of Zimbabwe Platinum, says the company has decided ‘iron ore is not coming out of its depressed pricing bracket for a long time’ and intends to sell its existing iron ore assets, at Mebaga in Gabon and Malelabe in South Africa, while a company name change could be on the cards. However, Ferrex still plans use cash derived from mining a hoped-for 20,000 to 30,000 oz. of gold a year at Paddington from the second half of 2016 to fund development of its flagship Nayega project in Togo, boasting an initial reserve of 8.48 million tonnes with 14% manganese. The company, which lost £1.9 million in the year to September 2014 and another £659,000 in the six months to March, is paying an initial £465,000 in shares for 100% of Chaffers, to be followed by another £465,000 in shares once production reaches an annual rate of 10,000 oz. Reeves says the acquisition could ultimately give Chaffers’ vendors up to 11% of Ferrex, with two key directors, Peter Hepburn-Brown and Peter George, joining the Ferrex board According to Reeves, mining the Paddington gold leases could cost an average A$900 (£450) an ounce over five years, against a current gold price of A$1,510 an ounce, or US$1,078.67c, yielding handsome profits per tonne, helped by a weak Australian dollar, even after paying a 22% royalty to Norton and without the need for heavy capital spending, as the venture spends the first 2.5 years open-pit mining before going underground for more attractive grades. But Nayega remains the prize and the Paddington money will go towards developing it for production. With a measured resource of two million tonnes at 17.1% manganese and claimed potential to produce 250,000 tonnes a year, while the overall resource estimate is 11 million tonnes at 13.1%, Reeves insists nitial capital costs will be ‘nowhere near’ the $15 million envisaged in the definitive feasibility study on the project. |
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 12/11/2015 07:26 by skippybragagnolo I called out Dancy on LSE about that (I'm Jim78 on there)- he claimed that Dave told him via email that he has an initial target of 3p on the share price What a load of nonsense. The pity is that people seem to assume that posters are genuine- as if the CEO is going to throw around targets that are 6 times the current SP- in their own company in which they hold shares- they'd be investigated for market manipulation straight away.Dave Reeves is too experienced to discuss such things with some private investor so that they can share it all over the Internet. Unfortunately a lot of posters on LSE don't seem to have the experience to see through such nonsense and will get the hump if you point it out.For the last 2 years people have been posting supposed email communications in which the CEO has 'promised' that positive news is just around the corner. At best these people are too biased to interpret any communications correctly- at worst they're completely fabricating it. |
Posted at 02/7/2015 08:13 by edgein RS,Thanks for your views, your post sums things up very well. I agree there will be an equity element to the funding as the CEO has already commented on funding discussions at a significant premium to the share price earlier in the year. As you suggest moving Togo to early production, permit, DFS, funding, will help advance Gabon and SA, neither of which are reflected in the share price. The coming sequence of events could be a game changer for the longer term future of FRX and its other sizeable assets. Regards, Ed. |
Posted at 01/7/2015 19:16 by rec0very stock ctNope it is from someone in Togo who saw it on the telly. There is also this post on LSE: Unsolicited news from DR Happy for me to share news from the ground that at the formal meeting of Ministers in Togo, Ferrex project was specifically mentioned in relation to Nayega Mine, after one of the Members requested more detail. PM responded along the lines of 'Discussions with company will complete soon with permit issued to allow mining' DR clearly chuffed 'light at the end of a long tunnel' You must take into account that the president has been promising DR a licence for ages, politicians in our own country cannot be trusted to actually do what they say they are going to do, it is even less the case in places like Togo. The licence has not been awarded yet. All you should reed into it is that there is interest in the project amongst the politicians for the question to be asked and the answer to the question bodes well. There is plenty that could still go wrong - in some places in African even awarded licences have been revoked and given to others. What is interesting is how a very small number of buys - came to just over £5k, moved the share price more than it has moved in quite a while. It is up to you whether you buy on this - it does not actually say anything that has not already been said, ie when ministers are appointed they will get round to issuing the licence and that is expected to happen before end Sep. It is entirely possible that the share price will drop back again if the wait for the licence drags on, however I am as convinced as anyone can be that once / if the licence is granted the genie will be released from the bottle. I have all the FRX share I want. I would have bought at few more if I could have got them below 0.45, as my last top up was just below 0.5. It all comes down to what price you put on certainty. With early stage mining companies operating in places like Togo, there is no such thing as certainty only reduced or increased risk. From where I was before I learned of what the Prime Minister said in response to the question - it was not in his programme that he announced, it was in response to a question, this information represents a relatively small reduction in risk - I have always been over 90% confident that the permit would be awarded and it was just a question of when. I hope the above enables you to assess the information provided in accordance with your own risk appetite and you can make your own investing decision accordingly. |
Posted at 25/3/2015 13:12 by jagzoil Steve - if funding is provided at premium to current share price (which is what is being negotiated) then i can assume it's going to be well over 1p mark, on the news we should see the share price rising to 1.10-1.20 imo, on top of that production cash flow will kick the share price nearer the 2p range. I did some cals at home on the comp, but top of my head FRX will be looking to be in profit in the first yr production - great investment |
Posted at 26/2/2015 16:25 by liquid millionaire By the by the placing was circa twice as large as initially sought by FRX due to demand basically backed by the exciting prospects here at FRX.Remember that when the FRX share price picks up a head of steam it really starts to motor! |
Posted at 25/2/2015 08:01 by liquid millionaire CyprusSteve 25 Feb'15 - 07:53 - 4364 of 4365Today's funding. Good to have a sizeable chunk of money in the bank - ie GBP835,000. However, I am disappointed by the funding price, as I am sure we all are. The main thing I can think of is that it probably takes up to a week - perhaps more - to arrange and finalise a funding - and a week ago, before the rise in share price started, 0.5p would have been a fair, even a good price to get the money at - however the rise in SP, particularly over the last few days, would have probably caught everybody out, as over the last month or so the share price was hovering between 0.4 and 0.6. As someone who managed to grab a few FRX in the placing via a PCB your summary is just about spot on CyprusSteve Lots and lots of very good news to come from FRX shortly! AIMO....DYOR |
Posted at 14/10/2014 09:26 by cyprussteve I wonder if the IO price has bottomed ? - the author of the article above seems to think so, and I am sure this is what has so dramatically hammered the FRX share price DR is presenting in two days time - it may be that we have an RNS due for the presentation - ( that is his normal style) - possibly on Togo, which is probably our priority now, as manganese prices are holding well. |
Posted at 18/9/2014 15:01 by danielmiller1 Hi chaps well here we are just as predicted she under 1p. Question is now where do we go from here. To me it's easy to answer down to .6.But then there are no worries are there because to the diehards is still a good buying opportunity. My old charting system is really wrong and with talk of Mortitz retiring it may impact on the FRX share price But watch your screens as my system is getting excited, at last I may hasten to add, as GDP result are due soon and sources inform me that MORTITZ is going and it's looking good....again at last, for an share price recovery! |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
