Ferrex Share Discussion Threads

[jagzoil] 24/3/2015 18:00

Funding news which will take FRX into production = mcap atleast £20m on the news alone

[sashimi] 24/3/2015 16:22

Activity seems to have stalled a little these last few days. We surely can't be too far from an update/news.

[tcrober1] 23/3/2015 17:09

Thanks RS, much appreciated

[rec0very stock] 20/3/2015 22:38

LM,

Bearing in mind they did a placing recently in which directors took part and would not have been able to if they had been sitting on undisclosed price sensitive info and that they are not allowed to disclose price sensitive info to small groups of shareholders at an AGM, I did not get the impression they were sitting on anything that is not already in the Annual Report or in RNSs.

The only thing I did not know, because it was not made clear in the Annual Report, is that although directors have been awarded the remuneration stated in the report (overall slightly less than the year before), they have not actually received much of it and a significant proportion of the liabilities is actually unpaid directors' fees.

They still hope to have the mining convention signed by end of Mar as announced, but recognize, as I have posted many times, that this is Africa we are talking about and "French" Africa at that. Dave Reeves was not at the AGM because he was in Togo, as he is quite a lot of the time.

As announced in RNSs and in the Annual Report they have a number of funding options and they have 2 start up options. The mining convention is the key, once that is unlocked then the rest follows in reasonably short order as they have said in RNSs. I have no doubt that if this company fails and cannot continue as a going concern, as the auditors emphasized the matter that there was a material risk that it would not be able to continue as a going concern in the Annual report, then it will not be for lack of trying by the directors. There are far too many "lifestyle" companies on AIM. FRX is not a lifestyle company. Failure would be down to Africa or the global financial situation. It could happen, as it could happen to any company. FRX is a very junior, early stage mining company, that has an MD with a pretty amazing record of pulling off great results where others have failed.

I go to AGMs whenever I can so I can have a chat to the board and let them know that ordinary shareholders care and that they can't just take it as read that resolutions will be passed because people can't be bothered. It is not always convenient to attend, but if you have an interest then you should make the effort whenever possible. I hope to meet Dave one year, but this year I am much happier not to see him. Any genuine shareholder who has questions for the board or issues with the board ought to attend the AGM and put those question / issues to the board directly.

[liquid millionaire] 20/3/2015 08:29

Thanks RS. Anything else of interest from the FRX AGM yesterday that caught your attention?

[rec0very stock] 19/3/2015 19:40

sashimi,

I attended. I had a number of questions on resolution 2 and once satisfied with the answers I voted in favour. I had further questions on resolution 5 and again once satisfied with the answers I voted in favour. As per the RNS all resolutions were passed, most unanimously but resolutions 2 and 5 did have a small percentage of votes against.

[sashimi] 19/3/2015 15:38

Has anyone here attended the AGM today? If so can they fill us in please.

Thank you

[danielmiller1] 19/3/2015 11:03

Yep CT could well be the way things are looking, but don't forget the MM's hiccups which seem to catch so many out of step!

[clocktower] 19/3/2015 10:12

Upwards and onwards regardless of a short wait.

[cyprussteve] 19/3/2015 10:01

Hi sash,
As long as it takes - these things are not in the Company's hands.
They cannot tell us what they don't know themselves.
Regards
Steve

[jedsy2001] 18/3/2015 18:40

Sashimi..how long your going to wait is a personal thing.. wait as long as your comfortable my friend... Your gonna have to be here till September/October to see a good healthy gain...That's my opinion tho

[sashimi] 18/3/2015 17:59

How much longer are we going to wait for the assay results or news on the mining convention?

[cyprussteve] 16/3/2015 22:10

TOTALLY off topic - and purely for a bit of light relief - even for those of our readers who do not like football, I would hope may find the link below funny.

It made me laugh out loud.
Regards
Steve

[rec0very stock] 13/3/2015 23:10

I strongly suspect there is a certain amount of dumping of the placing shares going on. The placing seems to have been done exclusively with bucket shops who just want a quick profit. The share price seems to be holding up reasonably well despite this. It will crater if there is not the expected progress on the licence and the funding in the next few weeks.

I am going to the AGM in Farnham next week. I went to last year's AGM when we were all in high spirits about the Anglo deal. It was not their fault the Anglo deal fell through and there are factors with Togo that are completely outside their control, but I do expect them to be honest and realistic and I will be pressing them hard on a number of issues. I will vote my shares on the resolutions depending on the answers I get.

[skippybragagnolo] 13/3/2015 17:13

Any one of a million reasons that someone might decide to sell- a letter from the tax man? unexpected medical bill? They may well consider this their most risky investment and so would rather free the money up from here rather than one of their more stable investments.They might have bought in on the hopeful claims of funding being in the pipeline and the licence being imminent and then done some more digging and found that this has all been said before? Maybe they changed their mind and decided to wait for actual news?Who knows?At the moment there seems to be a lot of new investors / traders jumping in here. It'll more than likely be the short term traders jumping ship after a few days having either made a small amount or lost a small amount and decided to cut their losses and move the money elsewhere.Those traders will have artificially pushed the price up temporarily- if there's no news by the end of the month it will settle back down again I'm sure- it might hit 1p on the back of the current new interest before doing so though- that'll keep the traders more than happy.Of course if there is news then all bets are off, the patient will be rewarded and the short termers will have missed out but be happy with their 5 or 10% here and there.Good luck all.

[sashimi] 13/3/2015 16:24

I can't understand how someone that has been in this until now would want to sell even a share. The risk was there all the way news could have come any time, good or bad, so why would they sell now. Does anyone here has an explanation?

[danielmiller1] 13/3/2015 12:52

Not to this one LM but I have done some like that but way back! Lolololololololo we all go through it at sometime!

[hotsherbert] 13/3/2015 12:15

Can we expect something similar here?

NBR currently 2.20p, 1.075p before announcement this morning:

Issue of 13,465,263 new Ordinary Shares at 4.75p per share.
Issued to Brian Moritz, 4,383,158 shares in settlement of loans of £208,200 leaves him with 25.77% of isc.

shame he could not have done the same here last month.

Good luck all

[andylee3] 13/3/2015 08:41

So, they made a loss and did a runner. Or should I say......did a 'Trotter' ;-)

[liquid millionaire] 13/3/2015 08:38

LOL....you going to own up to that trade then DanielMiller1?

[novicetrade68] 13/3/2015 08:34

That is just incredible...

[simonparker5] 13/3/2015 08:30

I saw that, £500 lost in 20 minutes. What a plonker Rodney.

[tivoliworldgaming] 13/3/2015 08:29

Some noob trader bought 450,446 shares at 0.795p and then sold them twenty four mins later for 0.7p. Traders like that deserve to go bust.

[sashimi] 12/3/2015 17:51

not sure if this has been posted here before:

[sashimi] 12/3/2015 05:34

I expect the assay results to be issued before any other news. Hence, it should be very close.