Ferrex Share Discussion Threads

[cyprussteve] 05/3/2015 19:46

The closer we get to the end of March - the nearer to updates on assay results, indicative funding, and completion of Mining Convention and securing the Mining Permit for Togo.
The latter is clearly key - and as yet I have not seen a single posting -or article - which suggests that it will not be forthcoming - other than sheer government lethargy causing delays - NOT license refusal.
Can anyone think of one good reason why it would be rejected ?
When granted, I don't not think a doubling in share price is unlikely in short time, with more to come as it comes into profitable production.
Granted, DR is an optimist , but optimism is essential in any exploration Company – and in DR's case it also provides the momentum for his prodigous work rate and continual striving to make deals and secure a sound future for FRX – I have no doubt of that – and his significant shareholding, recent loan to the Company, and previous track record before joining FRX all indicate that he has good reason to be optimistic.
The time for FRX is ticking away !!
Ciao
Steve

[novicetrade68] 05/3/2015 15:37

I think that might be a rollie, but the 3.5m trade is definitely a buy. Nice to see FRX coming on more peoples' radar, so they'd better not disappoint ;-)

[tivoliworldgaming] 05/3/2015 14:28

Two one million buys have just gone through.

[danielmiller1] 04/3/2015 22:51

As you know Steve I play poker and quite well too.

This is a great 50/50 play, well worth my recent top up, but it was with an overflow of surplus disposable cash.

I advocate caution for those not so flushed if I may use that pun!

[cyprussteve] 04/3/2015 22:42

Daniel.
You have previously stated that you are holding here - and, I believe recently topped up if I read your post correctly.
I have no problem at all with you posting cautiously - you have every right to do so, and, I also understand your reasons.
However, what I do not understand is why you continue to hold when you have such major reservations - I can only assume that you feel the potential upside is greater than the potential downside - if you did not feel this, I wonder why you are invested.
Regards
Steve

[jedsy2001] 04/3/2015 21:26

Again the old saying "only invest what you can afford to lose" comes to mind

[danielmiller1] 04/3/2015 20:56

Sure you punt at your own risk and the playing field should be level, but there are some who are lost unless they are not tilting things...as ever let caution guide you.

[jedsy2001] 04/3/2015 19:55

Well looking to the future and mining licence...and then the opening of the mine. I'd predict a good few pence by Oct-Dec...but it's not guaranteed so as ever you punt at your own risk

[danielmiller1] 04/3/2015 18:16

We have been here before, remember when so many people guesstimates something to happen...it usually falls flat on its face like the funding deal did last year!

[clocktower] 04/3/2015 18:12

CS, Your question to jedsy2001 I assume could be that when the expected news is posted, it should rocket bearing in mind what the company has already indicated. However, we shall await news which with luck will come before the end of the month.

[cyprussteve] 04/3/2015 17:50

Hi jedsy.
I am not saying you are right or wrong - but I would be most interested in the rationale behind your posting above.
Can you please oblige.
Thanks
Steve

[jedsy2001] 04/3/2015 17:32

This is the next concha

[sashimi] 04/3/2015 17:29

Nice large buy at the end of the day. Someone else seems to positive on this one.

[the count of monte_cristo] 03/3/2015 08:29

Of general interest...

Looking through the recent new issues on AIM I note that "IronRidge Resources" has listed, they are IO focused with projects in Gabon and Australia. Ticker is IRR.

IRRs market cap is 17.7m GBP whilst FRX's is less than 6m GBP.....and surely FRX are more advanced with their Gabon IO project??!

I believe their Executive Chairman "Nick Mather" used to be the boss at SOLG.





..."The total number of shares in issue at Admission is 236,612,203 giving the Company a market capitalisation of approximately £23.7 million on Admission at the Placing and Investor Subscription Price of 10p per share".

....The funds raised will be used to undertake exploration mapping, sampling and an approximately 15,000 metre planned drilling programme on the Company's exploration projects in Gabon: the Tchibanga and Tchibanga North licence areas, two adjacent permitted areas located in the Tchibanga region in the south-west of Gabon, and the Belinga Sud Prospect, located in the north-east of Gabon; as well as providing working capital for the Company.

Over the last 12 months the Company has attracted investment commitments as part of the IPO process from a high grade South African iron, chrome and manganese mining specialist Assore Limited ("Assore") and global resources, mining, marketing and trading conglomerate Sumitomo Corporation ("Sumitomo") which have subscribed for approximately £9.4 million of shares in aggregate. Assore will hold approximately 30% and Sumitomo 12% of IronRidge respectively on Admission.

[sashimi] 03/3/2015 05:57

CyprusSteve- totally agree. Lets wait and hope for the best. Thank you for your input.

[danielmiller1] 02/3/2015 20:44

Lolololololol nice one SB.

[danielmiller1] 02/3/2015 20:15

The only problem I see with quoting RNS notices is that they have a track record of failing to materialise.

Who was it that said, Think before you speak!

[cyprussteve] 02/3/2015 19:04

Hi sash,
Two extracts from recent RNS's are relevant here I think , as copied below :
"We are in discussions with numerous interested parties in respect to the funding of Nayega as a low-capex, open pit, 250,000tpa manganese mining operation. We look forward to providing further updates on this in due course, including finalisation of funding, as we announce the next stages of development and mine construction for Nayega."
"The Measured Resource at Nayega totals 2.0Mt at 17.1% Mn, enough to cover the first three years of proposed manganese mine life, and the total resource for Nayega now stands at 11.0Mt at 13.1% Mn, all in the Indicated and Measured categories. Exploration outside of the resource area has defined additional targets, which have the potential to increase the size of the manganese resource."
"We look forward to providing further updates on this in due course as we announce the next stages of development and funding for Nayega,"

So, in my view, assay results plus funding may well be due soon.Funding will almost certainly be announced sublect to license granting, but, I don't believe that the "numerous interested parties" would be going down that route and wasting their time unless they felt pretty damn confident that the license woulkd be granted. My best guess would be - and it is only a guess - that FRX have received prior approval for the License as soon as the Mining Convention is completed - as below.

"In the meantime, the Company continues to work with the Government of Togo towards the conclusion of the Mining Convention which is the penultimate item for the issuance of the Mining Permit over Nayega. The Company still expects to conclude the Mining Convention by the end of Q1 2015."

I do not see any way that we will have the actual license itself until after the Mining Convention has been completed, not far away in the overall scheme of things, but with other updates prior to then.

Does that make sense ?
Steve

[skippybragagnolo] 02/3/2015 19:02

The mining permit certainly won't be announced by 11th March- they are expecting to conclude the mining convention by the end of Q1- that is the penultimate stage of being granted the licence. How long after that it will be before the licence is actually signed off is anyone's guess although I'd like to think it would be no more than a couple of months. So the end of May perhaps.I'm still trying to ascertain whether or not the share price has got further to drop before I buy back in, it's a bit of a head scratcher. If I miss the bottom then so be it, for what it's worth anything below 1p is a good price here in the long term but I'm not convinced it's found the bottom yet.There you go.... Now I've said that the licence and funding will be announced this week and it will be at 5p by the end of next week. Feel free to thank me if that's the case.

[sashimi] 02/3/2015 17:55

I don't see the permit being announced prior to the 11th March i.e when the new shares will become listed. However, I would expect the assay results to be announced this week. Just my opinion.

[clocktower] 02/3/2015 08:31

I think you will see this moving upwards before there is concrete news as those close start small but steady buying, in fact there all ready seems to have been a fair amount of nibbling at these very low levels.Still, as you suggest a month at most is to be expected.

[danielmiller1] 02/3/2015 00:19

Still in Steve but still on my 50/50 basis.

Bye the way...of course I want this to come good! But caution must prevail!