Ferro-alloy Resources Share Discussion Threads

[gb904150] 11/3/2021 09:22

I think the current Mcap is fair for where FAR is at the moment.

If the price falls a little due to a fund raise, director selling or timetable delay I'd add quite a few more.

If the project route becomes a bit clearer - upgrades, BFS, overhang worry the share price would go up a bit and I'd be happy to add some more.

What doesn't change is the quality of the project - permitted, shallow, high grade, low processing costs, massive resource, lowest opex Vanadium, geographic advantages (west/east markets).

If you believe Vanadium has long term structural demand growth on the back of steel demand (infrastructure play) and VRFB's (decentralised/microgrid energy) it looks good to me.

[mesb48] 11/3/2021 09:04

funny how there was so many operations updates last summer and now we've had nothing for months. In some ways though I'm coming to prefer the quiet ones, since I can be confident I'm not being ramped by management. Vanadium prices seem to be moving in the right direction. Connecting electricity supplies, installing furnaces and completing feasibility studies are not without challenges, but it's nothing like the uncertainty of getting finance or licences. So short term, despite all the uncertainties my feelings are still positive on this one. Fingers crossed for an update soon.

[jailbird] 11/3/2021 05:03

That almost 3m sold (apparently) in the last 2-3 days The price has not really moved either way . Does not make sense does it You would expect a a couple of pennies move up or down wouldn't you

[cyberbub] 10/3/2021 22:41

A late 350k sell printed after close, again absorbed by the market... For now anyway! Touch wood.

[cyberbub] 10/3/2021 11:13

I expect Bridgen to sell some shares after the lockin period expires. When exactly, and how many, who knows. 5-10M shares initially I would guess. However the positive side is that the market absorbed 2.5M shares sold yesterday, so as long as he sells in modest sizes then it seems there should be no problem. Or as I've said, he may be looking to sell a block to an Insti (supported by good news hopefully).Anyway these moves are irrelevant for LTHs. As you say we need news of progress on the BFS, electricity and arc furnace. That's what will drive the share price NAI

[gb904150] 10/3/2021 10:20

I think jailbird is correct.

The RNS was 19th March 2020 and committed to a further 12 months of lock-in for those shares.

As a result of the uncertainty as to the length of the disruption being caused by Covid-19, Mr Bridgen has agreed to enter into a 12 month lock-in over the 64,738,800 ordinary shares in the Company he holds (subject to waiver by Shore Capital and to certain customary exceptions) (the "Lock-in"). Mr Bridgen was subject to a 12-month orderly marketing arrangement entered into in conjunction with the IPO of the Company, that was set to expire on 21 March 2020

The RNS says those shares were already subject to a 12-month lock in that would have expired 21st March.

One possibility is that we see a further extension of the lock-in.

At the least we need some clarity on the BFS, the power line and the arc furnace.

[cyberbub] 09/3/2021 19:34

Hmm maybe you're right, I had thought it was 1st March. Interesting trades still... Something seems to definitely be happening.

[jailbird] 09/3/2021 19:09

Do not think the lock-in has expired yet . Another 12 days to go before it expires

[jailbird] 09/3/2021 19:08

Cyber Might have to disappoint you .RNS on the 19th Match 2020Mr Bridgen has agreed to enter into a 12 month lock-in over the 64,738,800 ordinary shares in the Company he holds (subject to waiver by Shore Capital and to certain customary exceptions) (the "Lock-in"). Mr Bridgen was subject to a 12-month orderly marketing arrangement entered into in conjunction with the IPO of the Company, that was set to expire on 21 March 2020, the Lock-in replaces this orderly marketing arrangement.

[cyberbub] 09/3/2021 18:46

Interesting large trades at 4pm there, a 1M and a 1.5M. Both dated today on LSE, only a minute apart but at exactly the same price (10.10p). So it doesn't look like a partial rollover to me. Probably two sells worked over a few days andp completed today? Perhaps Bridgen is starting to sell a few million for his divorce settlement we know about? If so the share price hasn't crashed at all, in fact most of the trades after those big ones were buys - very encouraging IMO. Would be great if Bridgen was only selling 2.5M shares for now to keep his wife and the court happy, and perhaps another £250k worth in 2 or 3 months' time say....?NAI

[jailbird] 09/3/2021 12:28

Yes CyberDelivering the project From Funding , BFS, construction and to production is the hardest part .Hence it require a lot of patience ! and expertise to deliver it .

[cyberbub] 09/3/2021 12:03

Even if you assume a very pessimistic doubling of the shares in issue (100% dilution, rather than the more likely 10-30% dilution), the share price should still be well into 3 figures when in full production.The key is to deliver the project. The share price will then look after itself!

[jailbird] 09/3/2021 11:33

I felt that way at the time too But 14 months on , I do not feel the same way .

[cyberbub] 09/3/2021 11:20

I was just watching the Crux interview (in the header) again last night. Bridgen tells a very, very compelling story IMO. He seems to know the project, and Kazakhstan, inside out - as you would hope of course! And he seems to give an honest assessment of why the share price has dropped so far, and why it's still low. His delivery of the interview wasn't that of a shiny, smooth PR salesman, but I liked it all the more for that, as it seems more honest (warts and all).*If* they can deliver it, then the share price should be a very long way into 3 figures when Stage 2 is online, even if there is some capex dilution still to come.Just my view of course, NAI

[cyberbub] 08/3/2021 19:30

The Vanadium price continues to rise steeply.

Obviously we're not in production yet, but *if* we could secure the Stage 1 funding later this year then I see no reason why we couldn't start production by say Q3 2023, maybe pilot production even earlier.

If the current management can't push it forward, then at some point someone will come along and buy them out. What price a 40-year Vanadium project, with a Mining Licence and some infrastructure, strategically positioned, low capex required, and with cash costs per kg so low they're actually *negative* due to major byproduct credits?! And with a NPV of between $2bn and $3bn according to the (Western) Competent Person's Report?

I can tell you it would sell for a lot more than $50M!! Up to 8-10x that price would be my guess...

No advice intended of course...

NA

[cyberbub] 08/3/2021 12:56

Will be interesting to see what happens with Bridgen's shares. Ideally he will release some good news soon, the share price will break the recent ceiling at 12p, and then he will offload say 10-15M shares to an insti or HNW.We can hope anyway!

[jailbird] 02/3/2021 20:29

I doubt Sherlock/ Pandemic have any evidence .I also asked for it but got nothing back.Hence I have ignore these allegations .My negativity is solely info on lack of progress and balance sheet concerns

[cyberbub] 02/3/2021 20:24

OK then P21. After your allegations above, I've just spent half an hour doing some searches on wrongdoing, crime, investigations, court etc, involving Nicholas John Bridgen.And...virtually nothing. He's included in the ICIJ database of offshore company owners related to a different mining company, that's all. Well big deal. We all know that FAR is a Jersey registered company already.I'm not a big fan of tax havens and would never use one myself, I would be happy to see them all closed down. But not only are they legal, but they're very common amongst junior mining companies.Is that the sum total of your "serious issues and investigations" P21?Genuinely - if there's a serious issue or investigation against our CEO then please let us know. I'd be very interested, any genuine investor needs to know if their company is being run by a crook!Thanks for any info.

[cyberbub] 02/3/2021 19:56

Which larger investors have sold out, Pandemic, apart from Citadel in October?Do you have links for the other "serious issues and pending investigations" you describe against the CEO, eg. newspaper stories, court proceedings, investor websites etc? Or even just some more detail than "serious issues and pending investigations"?

[pandemic21] 02/3/2021 18:12

Dream on. Denial is not a river in Eygpt!
To settle his divorce he needs $5M (plus the tax payable on selling his shares) which will mean he has to sell most of his shares. He has until March 2021 to settle this debt...if he walks through Court Order 3 then prison looms!

Then there are other issues and
Pending investigations into this CEO
Behaviour, quite serious too!

A while back some of the larger investors
Started selling off their holdings...

Did it cross your mind as to why they
Would be doing this?

[cyberbub] 02/3/2021 13:15

Another high volume day, mostly buys so far. Something is definitely happening - whether good or bad we will know soon IMO. We need an update.

[cyberbub] 02/3/2021 10:29

I will agree that the CEO's salary is higher than I would expect, given its current stage of development.Disposal of some of his shares is irrelevant in the long term - it's no additional shares being issued!Yes we need to raise $100M for Stage 1, some of which is likely to be from equity. IMO if the small plant is genuinely producing $10M p.a. in profits, this may support almost $100M in debt, depending on the interest rate. A rising vanadium price will do no harm whatsoever!!The key is not to focus on the Stage 1 fundraising today. Let's raise £2M to get the power supply and arc furnace installed and the BFS issued. Everything else will follow after that.If/when we get into the 20p+ range then raising $20M-30M in equity should be absolutely no problem to any LTH, as it will unlock a massive global-scale mine and decades of profits.NAI

[w1ndjammer] 02/3/2021 09:48

V205 price still heading North............

WJ.

[pandemic21] 01/3/2021 19:20

Did he now? It still doesn’t justify his high salary and the fact that there plan, according to Nick Price of Shore Capital(the brokers that FAR floated with) they needed to raise $100m - $35m from shares and $65m from Loan Notes.

How much has FAR raised so far? $7m?
What’s the burn rate pa of FAR with its 100 plus work force?

What’s the cost to build the main processing plant in order to mine 22,000 tonnes pa?

Price said it would be 2 years to build and test main plant too!

How much has FAR raised and squandered since 2006?

[w1ndjammer] 01/3/2021 17:58

Nick Bridgen, CEO, said : "I am extremely pleased with the speed at which we have been able to make our first commercial production and sale of calcium molybdate. This is another step in our plan for the development of the current small-scale operation while plans for the development of the Balasausqandiq project continue. It will bring a significant increase in revenue with only a small impact on costs and will be highly complementary to the record levels of production seen in recent months

WJ.