Ferrex Share Discussion Threads

[sashimi] 16/4/2015 12:11

"Awaiting final costing inputs prior to anticipated announcement at the end of April 2015"

We should also have the feasibility study concluded by the end of the month.

So this month in particular we shall be looking on the outcome of the TOGO election and the feasibility study. Shall we see 1p by the end of the month? If the cards continue to line up as them seem to have been doing as of late, then I think we can get there.

[cammy3] 16/4/2015 11:29

Interesting paragraph from the Feb RNS At the same time, the Company continues to progress discussions with numerous parties regarding the potential financing of the entire production project at Nayega. The Company intends to enter into an MOU in the near future with one or more preferred parties to finalise these discussions. In particular, one party has progressed to providing a term sheet to Ferrex which, if the transaction was concluded would see an equity investment into the Company at a significant premium to the Issue Price in return for a substantial stake in the Company.

[danielmiller1] 16/4/2015 11:28

Yep usually followed by lots of sells tomorrow........will the trend be broken is the question?

[cammy3] 16/4/2015 11:10

Lots of buys today

[jagzoil] 16/4/2015 10:34

getting closer to news - time to top up / buy

[cyprussteve] 14/4/2015 11:08

Election update link above.

[andylee3] 10/4/2015 23:00

St Brides weekly brief......

The Brief has returned from its Easter break, albeit full of chocolate and feeling slightly heavier, we are glad to be back giving you the latest instalment of our exciting company updates.

Anyway, without further ado we are pleased to announce that our trusty Stock Watch is back! This week it looks at Ferrex (AIM:FRX), which is focused on bringing its Nayega Manganese Project in Togo into production and the Company has made significant strides towards this goal over recent months. The Company has a two phase development strategy for Nayega focused firstly on the development of a low-capex, open pit, 250,000tpa 38% manganese product operation. The second phase is focussed on commissioning a smelting facility to produce a valuable 74% High Carbon Ferromanganese alloy.

Things are looking are looking positive for Ferrex (AIM:FRX) as the Company has made significant strides towards bringing its Nayega Manganese Project in Togo into production. A definitive feasibility study is nearing completion for Phase 1, and the modelling has been completed which outlines low capex costs of US$14.5 million. However, a recent update highlighted that this may be optimised further and this will be aided by the very recent increase in resource for the project up to 14Mt @12.4% Mn. With the environmental and social study signed off from the Togolese Government as part of this, the receipt of the Mining Permit will be a strong value trigger for the Company, allowing it to finalise the DFS and move into the construction phase. Ferrex’s announcement in March signalled positive developments on this front with the conclusion of Mining Convention Negotiations leading to a positive outcome for both the Company and the Government. The document formulated on the back of this outlines the significant contribution that Nayega will make to community development, skills transfer and fiscal uplift in return for tax stabilisation. This recent update also highlighted that discussions with project financiers and manganese off-takers are progressing positively. The Company expects that the exploitation permit will be granted by the end of Q2 2015.

In addition to work at this asset, the Company will continue exploration of Mebaga and Malelane iron ore projects in Gabon and South Africa respectively to add value. These activities will be in line with Ferrex’s strategy of becoming a low-cost producer of minerals for the steel industry.

MD Dave Reeves will be available for meetings from 20-22 April, so please let us know if you’d like to meet!
Contact...

Megan Dennison
St Brides Partners Ltd
3 St Michael’s Alley, London, EC3V 9DS
www.stbridespartners.co.uk
Tel: [phone]

[gheebee] 10/4/2015 14:29

The electoral campaign for the presidential election will open April 10 at midnight and ends at midnight on April 23, according to a presidential decree issued Thursday..... The ballot boxes will be opened after the vote on 25 April. The incumbent Gnassingbe, who is seeking a third term, faces 4 other candidates in the vote.

[pav 1] 08/4/2015 23:55

Yep the 0.55 + are buys..I added a few today.

[jagzoil] 08/4/2015 12:46

Sas 0.55p+ are buys with 2 whoppers on isdx at 0.64/0.65

[sashimi] 08/4/2015 12:43

Based on the price these trades are going through, their either buys and not sells or they are working a large order. So far on L2 I see nothing.

[danielmiller1] 07/4/2015 21:34

As with all companies scrounging around for funding the credibility of the board is of paramount importance/concern!

[cyprussteve] 07/4/2015 20:37

Some interesting info here - but you have to subscribe !

[jagzoil] 07/4/2015 08:13

fer - goodluck and hope to see you soon. I'm adding on dips when funds allow...build a substantial holding prior news is key.

[sashimi] 07/4/2015 07:53

Lets hope we can recover some lost ground this week ahead.

[f3rdinand] 05/4/2015 11:20

The market reaction is not surprising tbh. The time frames have changed (yet again) and the market is quite rightly skeptical if this permit will ever be awarded. 3 months is a long time in AIM shares- expect this to drift until June time when interest should reignite ahead of the end of Q2.

Personally I think it will be issued eventually and FRX long term (next 5 years) has huge potential! I'll be back when it is issued, but before hand the risk is now too large; i also think my money can work better elsewhere, hence why I sold out my substantial holding!

[cyprussteve] 01/4/2015 15:33

Hi sash - disappointing not to see a rise yet after two positive RNS's , I am sure we all agree.
Others may see it as a buying opportunity.
Market sentiment is everything, and ,our day will come.
Also, we are coming to the end of the tax year - and often investors make decisions based on that - and perhaps want to sell in order to avoid CGT somewhere else and try to "balance the books" so to speak - with a view to buying back in the new tax year.
However, I am totally speculating - we know not - time alone will tell.
Regards
Steve
PS - Also interesting to note that the spread is tightening - it was over 20% last week.

[sashimi] 01/4/2015 15:03

With two positive RNS in a space of 3 days, we get three consecutive negative trading days. Very disappointed.

[sashimi] 01/4/2015 15:01

Thanks CS.

[cyprussteve] 01/4/2015 14:41

Just found the link below - This is the government newspaper – recent article.
It does not say a lot, more importantly is the fact it is in the government newspaper.

I have done a google translate below – hope it makes sense !

Ecofin Agency) - Ferrex plc, active in the iron and manganese in Africa, was concluded with the Togolese Government of the mining agreement on manganese Nayega a proposed 11% to 13.1 Mt in the resource northern Togo. The London-listed mining company announced on March 30 the conclusion of this agreement, indicating that it is a "positive outcome" for both Ferrex and the Togolese government.
It identifies, she adds, the important contribution of the project in terms of development of the resort, transfer skills and stable tax rates and tax incentives for Ferrex who hopes to win late in the second quarter of 2015 the operating license on this deposit.
"We have made significant progress in bringing over the past two months, the Nayega manganese project to its development," said Dave Reeves, Dg Ferrex that focuses on the faster start of the first phase the project for the export of 250 000 tonnes of manganese ore per year.
Ferrex plc continues, we learn, the talks in every sense to mobilize funding and signing off-take for the open project and low-capex which would provide more than 500 direct and indirect jobs.
It operates through its 85% subsidiary SGM Sarl on the Nayega project covering 92,390 ha and on the discovery of a deposit along 2.2 km wide and 500 m with an average thickness of 3.3m.

[cyprussteve] 01/4/2015 12:58

Thanks for that sash.
Target prices are interesting at 1.7p -
"Ferrex PLC (LON:FRX)‘s stock had its “speculative buy” rating reaffirmed by analysts at Beaufort Securities in a research report issued to clients and investors on Tuesday.
Shares of Ferrex PLC (LON:FRX) opened at 0.5700 on Tuesday. Ferrex PLC has a 1-year low of GBX 0.4500 and a 1-year high of GBX 1.9500. The stock’s 50-day moving average is GBX 0.62 and its 200-day moving average is GBX 0.72. The company’s market cap is £5.32 million.
Separately, analysts at FinnCap reiterated a “corporateR21; rating and set a GBX 1.70 ($0.03) price target on shares of Ferrex PLC in a research note on Monday"

[cyprussteve] 01/4/2015 10:00

From today's Pro- Active article.
Ferrex lifts resource at Nayega manganese project
By Giles Gwinnett
April 01 2015, 8:25am
The additional resource comes from two target areas less than 7km from the main Nayega deposit and planned processing plant, with a maiden inferred resource at the T48 target of 220,000 tonnes at 15.57% manganese, and another maiden resource at the 27 target of 2.5Mt a 9.21%, Ferrex revealed
The additional resource comes from two target areas less than 7km from the main Nayega deposit and planned processing plant, with a maiden inferred resource at the T48 target of 220,000 tonnes at 15.57% manganese, and another maiden resource at the 27 target of 2.5Mt a 9.21%, Ferrex revealed.
Ferrex (LON:FRX) has increased the overall resource at its Nayega manganese project in Togo, which could potentially enhance the robust economics of the site.
The total JORC code compliant resources now stand at 14 million tonnes (Mt) at 12.4% manganese, compared to 11 Mt at 13.1% previously.
The additional resource comes from two target areas less than 7km from the main Nayega deposit and planned processing plant, with a maiden inferred resource at the T48 target of 220,000 tonnes at 15.57% manganese, and another maiden resource at the 27 target of 2.5Mt a 9.21%, Ferrex revealed.
Ferrex managing director Dave Reeves said: "These newly defined JORC Code compliant resources have the potential to significantly enhance the already robust economics of our Nayega mining operation.
"Both resources are within easy trucking distance of the main Nayega deposit and proposed processing plant and should see the total minable material increase.
"We will now complete additional pitting and metallurgical testing to determine beneficiation characteristics of the ore and in turn increase confidence in the resources."
This week the mining firm said it expected a permit to be granted for Nayega in the second quarter, after a positive outcome was reached in negotiations with the Togo government over a mining convention.
The firm said the agreed upon document outlines the significant contribution that Nayega will make to community development, skills transfer and fiscal uplift. It also sets out terms for tax stabilisation and other fiscal incentives.
"In conjunction with the recently-concluded mining convention negotiations with the government of Togo and pending completion of modelling and documentation for the accelerated start-up option for the 250,000tpa manganese operation, this is just one of a number of positive developments for the company.
"I look forward to reporting on our continuing progress in due course as we move closer to commencing first production and cash generation at Nayega."

[cyprussteve] 01/4/2015 08:24

The story gets better - the share price unmoved at present.
At some time the market will wake up to the potential here - perhaps not until the license is physically granted, and then investors will be paying a lot more than they are now.
Nayega is beginning to look VERY juicy, and the funding proposals that DR is considering should hopefully be announced this month, and, we will then have a good idea of the TRUE potential, depending on which option DR selects.