Ferrex Share Discussion Threads

[clocktower] 26/8/2015 11:08

Surprised we have not seen a little more bottom fishing bearing in mind that the directors invested above this level and possible news on the horizon.

[clocktower] 25/8/2015 17:31

Good Luck matt, if you got the rest of your holding at or near this you have a result when it fly`s as I expect it will any day soon.

[matt1963] 25/8/2015 16:48

C T the 655363 trade is my buy mate just tidying up the numbers tick tock.

[clocktower] 25/8/2015 16:06

That 600k odd trade looks like a buy rather than a sell bearing in mind the previous price of sells of that size. Maybe pop up in a day or so with or without better news.

[clocktower] 25/8/2015 11:44

If news of the licence were to come now, the current price would seem to be the bargain of the year.

[paul the octopus] 25/8/2015 11:21

3 year on, no license, more funding needed, share price at lowest ever and heading to 0.1p placing or 1p placing after consolidation

[alan@bj] 19/8/2015 17:44

Up a tad on a bad day though.....

[rec0very stock] 19/8/2015 17:26

Paul,

The longer it takes for the Licence to be awarded, the more likely it is that additional financing will be needed - that is a statement of the blindingly obvious. There are however a number of financing options and because the directors are heavily invested themselves, the least preferred option would be another placing. That is not to say it won't happen, but equally to state that a placing is definitely coming is misleading. I would agree that if a placing is essential prior to licence award, then it would be at a significant discount and would hurt all shareholders - including the directors.

I have personal experience of how thing work in Africa (or more correctly do not work). I remain confident that the licence will be awarded, I would not like to have to say when. Presently I see before end Sept as remaining a realistic possibility. I also see that the company's ability to put off an additional financing much beyond end Sep is extremely limited, but stress that that does not automatically mean a placing.

[paul the octopus] 18/8/2015 12:01

hope? there is place for this word on aim, more likely discounted placing and your only hope is to avoid them, but not in Ferrex case, it is coming.

[sashimi] 13/8/2015 12:01

Thanks AS. Lets all hope we get the good news soon

[tcrober1] 12/8/2015 11:07

many thanks AS

[aimshares] 12/8/2015 08:24

Financial africk newspaper 10 August 2015 I feel mining permit for FRX is days away from being awarded. The most important bit in the below article is ((((( the process is underway and on track," says a source at the Togolese Ministry of Mines and Energy. "The license agreement should be already prepared, but there is still the signature"))))http://www.financialafrik.com/2015/08/10/togo-vers-lexploitation-du-manganese-de-nayega/Translation in EnglishFerrex plc, through the General Mining Company, a subsidiary in which it holds 85%, will launch the exploitation and production of manganese Nayéga (northern Togo), whose reserves are just as important. A considered promising project, and whose ores are estimated today at 14 million tonnes, with an initial production scheduled for early 2016. According to information, the process of granting mining licenses, is in its final phase.A promising project We are about 670 km north of the city of Lomé, to Nayéga in the Kpendjal. Small village in the savannah region, Nayéga full of a rare and precious metals, in Togo clearly supplanted by the odds minerals like phosphate, marble and limestone, which were and are so far, the mining history of this small country of 56,600 km².These manganese, whose operation will start soon by Ferex Plc mining company. Indeed, it is through the General Mining Company, a subsidiary in which it holds 85% of the company listed in London, works for the commissioning, Nayega manganese ores. She intends to use manganese in Togo, a deposit now estimated at 14 million tonnes of total resources, to a manganese content of 13%, including 2 million tonnes of measured resources at 17% manganese. According to preliminary statements, the deposits cover an area of ??2.2 km long and 500 m wide, or 92 390 hectares of land, with an average thickness of 3.3 m. And according to early findings from various analyzes in the field, it would be a very promising project. That already confirmed in March, Dave Reeves, Ferrex Plc CEO: "These new resources have the potential to significantly raise the already robust economic data, mining operations Nayega".Funding In February 2015, the British mining announced that it has raised £ 835,000, for placement and underwriting, to finance its project. The net proceeds of the fund should be used, inter alia, to constitute working capital. "With this funding secured, we will be well positioned to examine in detail all the funding options for the rapid construction of our project manganese, especially as we move towards the initial production scheduled for early 2016," commented Dave Reeves. And to clarify that his company was in discussions with several parties interested in financing Nayega. The cash flow from Phase 1 will be used to finance, in the medium term, Phase 2 covering the low-cost production of the ferro to 74% carbon in the draft Nayega. Note that in December 2014, the Mining obtained a "no guarantees ease at an annual interest rate of 10% which is refundable at the sole discretion of the British mining company." Financial assistance is provided by a consortium of investors including the Director General of Ferrex.The Operating Agreement After several months of negotiations, Ferrex announced March 30, 2015, having reached an agreement with the Togolese authorities. A mining agreement, paving the way for the exploitation phase of the field: "We have made significant progress in bringing over the past two months, manganese project to its development", was still know Dave Reeves. Following favorable for the company, which should eventually enable the development of the resort, the creation of 500 direct and indirect jobs, and skills transfer. Except that the important thing would be the actual content of the agreement, and its respect in practice, once the operation started.Design, Operation and Production ... On May 21, 2015, the Company announced it had completed its final feasibility study of the project development stage. The study showed a significant reduction of capital costs and operating costs of the quick start of the project. "This cost reduction is important and should have significant positive impacts on project economics," said a company official. And for the British company, it is time to get serious. That is to say, the exploitation of the site itself. And in this sense, common ground was found between the Togolese authorities and Ferrex. The latter hope to obtain Togolese authorities, the operating license, in the short term, so as to be able to deploy in the field before the end of the year and start production from January 2016. But "the process is underway and on track," says a source at the Togolese Ministry of Mines and Energy. "The license agreement should be already prepared, but there is still the signature". The Togolese manganese, which should be exploited open, according to observers, should not generate significant production costs; where a comfortable margin of profitability for the happy investor, who in his diary, hope in the first quarter 2016, performing its first exports. An operation that in its first phase, should be limited to the production of manganese, and in the second, production of ferromanganese. By Messanh L., Lomé

[paul the octopus] 05/8/2015 10:32

permit or not, still no cash no funding, more discounted placing after share split or consolidation, but surely 0.1p isn't far

[the count of monte_cristo] 31/7/2015 17:56

DR needs to deliver....all the positive talk and talk of exciting news next week is getting old.

[danielmiller1] 30/7/2015 09:31

Gosh is this dawg still trading?

[clocktower] 30/7/2015 09:31

Trouble is the cash must be trickling away with all the delays. Needs to be some news before long.

[edgein] 30/7/2015 09:28

It was expected before the end of Q2, but seems the elections in Togo delayed things a bit. Hopefully not that much longer to wait.

Regards,
Ed.

[tcrober1] 30/7/2015 09:26

DR must have some idea of permit timescale, weeks-months??

[sashimi] 27/7/2015 16:15

It's a shame we have dragged till the end of July and were still awaiting an update on the license.

Hope its not to far away.

[cyprussteve] 17/7/2015 19:49

Hi tc,
To answer your question re Kibo - yes, I have.
I hold it indirectly through a Company I rate highly wirh a diversified portfolio of resource stocks and ventures - Metal Tiger - MTR.
They have a significant position in KIBO.
Have a good weekend all,
Steve

[tcrober1] 15/7/2015 15:41

Hi CS
Havn't heard from you for a while. Many unknowns as yet.
China pretty much holds the purse strings on the future manganese price and never quite sure if they are in real trouble or not.Predictions i have seen suggest about 5 years for any significant upside.
Off topic, have you done any research into KIBO mining at all?

[cyprussteve] 14/7/2015 20:00

Fair comment, tc. What we don't yet know is what the production costs at Togo will actuallly be.

[tcrober1] 08/7/2015 18:18

The worry here is the continuing drop in manganese and iron ore prices, now compounded by a tanking Chinese stock market.
However good a business is, if the profit margin drops too low then it's not a sustainable business.
Lets hope things turn around before that.

[sashimi] 02/7/2015 09:35

Good post RS.