Ferrum Crescent Share Discussion Threads

[andrea152] 19/1/2017 10:21

Calm down chaps, it's only a share !

I think JT is on track to deliver a solution to Moonlight and then concentrate on Spain (and possibly other future projects he has hinted at in Podcasts), which is the future.

Nothing moves smoothly in AIM and when you have 3 sets of Lawyers, Advisers and listing Authorities to deal with at the same time,in 3 different mkts, before you put out any RNS, that delays the process even further.

There is also nothing that JT & Merlin have not done, that they cannot do in future. E.g buy shares, change Co name, stock consolidation ? Instit support ? So it doesn't worry me that they haven't been done, to date. Everything takes time.

I think that we are actually in for a very interesting couple of months, that may well transform the future of this Company. Certainly the current mkt cap bears no comparison to its quoted peer-comparison group, BEM, CXN, Nevada Zinc, etc etc.

IMHO, DYOR, GLA.

[blackss] 19/1/2017 01:28

OK i have gone but i will still moderate this thread from afar and i will not let you post libellous statements about me or anyone else. I have seen you chucked off a dozen threads on ADVFN and i simply can't be bothered with you here.

[patviera] 18/1/2017 23:00

Blackss I don't care what his forecast are He has let NOONE downIf you don't like placings then leave aimMgmnt offen let people down but JT seems to me to be doing a good job

[blackss] 18/1/2017 22:26

pat
If he hasn't let you down with a placing at the lowest share price of the year 3 weeks before he forecast the highest share price of the year then what would he need to do to let you down ?
You are a newbee, most of us have been diluted 50% in the last year by JT, a lot of us have seen the share price go from 19p down to 0.2p and its still falling. You may be happy but don't tell me he hasn't let "any" shareholders down.
And as for my shares ? I would burn them in the garden before i let you get your hands on them, i still remember you hovering like vultures over Barry's EKT shares.

[patviera] 18/1/2017 20:48

JT is doing all the right thingsHe hasn't let me or any shareholders down...yetI'm happy to back him I'm a buyer(will give 18.5 if you want to sell)

[firemansam4] 18/1/2017 19:55

Tom Revy was still in charge when the deal extension was done, JT was Non exec and moved to Exec from March, this extension was a TR deal, i have asked him!

31 March 2016



Ferrum Crescent Limited

("Ferrum Crescent", the "Company" or the "Group")(ASX: FCR, AIM: FCR, JSE: FCR)



Strategic Update and Directorate Changes

Highlights:

· Company restructured to focus on generating value from the Group's principal iron ore project in northern South Africa and the development of its value-accretive business model, progressing initially with its option over the Spanish lead-zinc projects (via the potential acquisition of GoldQuest Iberia S.L. ("GoldQuest"))

· Justin Tooth assumes the position of Executive Chairman from his previous non-executive role

· Evan Kirby joins the Board as a non-executive director, bringing significant metallurgical experience to the Company

· Merlin Marr-Johnson, who has recently acted as geological consultant to the Company, appointed as adviser to the Board to assist primarily with the progression of the potential Spanish lead-zinc projects

· Tom Revy, who as Managing Director was appointed to oversee management of the Moonlight Project to its current stage, has resigned having substantially completed his mandate

· Bob Hair has resigned as Company Secretary with Grant Button, an existing non-executive director, assuming his duties

[blackss] 18/1/2017 17:52

It was announced on the 16/12/15 that JT would take over as non exec chairman....and on 14/1/16 that there would be an extension.

RNS 16/12/15
Ferrum Crescent, the ASX, AIM and JSE quoted iron ore developer announces the appointment of Mr Justin Tooth as Non-Executive Chairman of the Company in place of Mr Edward Nealon who is stepping down from the Board to pursue his other business interests, both to occur with immediate effect.

RNS 14/1/16
Ferrum Crescent, the ASX, AIM and JSE quoted mining developer announces that further to the previously announced farm-in and joint venture agreement (the "Agreement"), it has agreed with Business Venture Investments No. 1709 (Proprietary) Limited ("BVI") to extend the timetable for completion of Phase I of the bankable feasibility study ("BFS") for the Moonlight Iron Project in Limpopo Province, northern South Africa (the "Project") by three months to 12 January 2017.

[patviera] 18/1/2017 17:39

I've only seen 2 timelines since I substantially increased my holding One over Spain which was a matter of days and now this one over moonlightNeither of which has stopped me from buying and neither of which will cause me any lost sleep

[firemansam4] 18/1/2017 17:17

Black

The BFS extension was announced back in Oct 15 prior to JT taking over the reigns back in March 16 so he could hardly of gone back on that if it was signed sealed and delivered?

[blackss] 18/1/2017 17:01

You need to do your research mate
JT has been here a year and we have been waiting for a year for the results of the first phase of the BFS only to be told last week (by JT) it never even got started.

[patviera] 18/1/2017 16:36

There hasn't been substantial delay under JT so if it bothers you sell

[andrea152] 18/1/2017 14:57

My average in price around 4p, over 6 years I'm afraid. I think we've got a relatively short wait until Indaba, so lets see what happens there.

I too think that something COULD be salvaged out of Moonlight. I'm not sure wot it is, but I don't think it will be along the lines of a conventional mine development plan, with an offtake agreement. The business & mining environment in South Africa does not lend itself to that any more.

The whole Global steel making market place has changed dramatically over the last 18 months (along with the price of Iron Ore) and the way forward seems to be with small and specialist electic arc furnace production, making special alloy steels to specific customer orders. So maybe that is the way that FCR will go - who knows - they potentially have a very pure iron ore product, which wud suit such furnaces in DRI pellet form. On the other hand, they may have just flogged the whole deposit to the highest bidder, for a relatively modest amount of cash. Only time will tell, but something must be going on, otherwise the Lawyers would not be at work doing "something", as JT said "when legally allowed to do so".

IMHO, DYOR.

[blackss] 18/1/2017 13:06

pat
If the delay doesnt bother you thats fine , its only been 7 years after all.
Dont think for one moment we haven't heard everything that JT has said so far about Moonlight several times before.

[patviera] 18/1/2017 12:49

Andrea what price are you long at?Unlike blackss I'm v hopefully of a deal with moonlight and delayed don't bother me

[andrea152] 18/1/2017 11:43

Yes Black, that's exactly what I said, and its all in the RNS's if you look.

Merlin and team are looking for additional vertical sheets of zinc/lead, which were not found in the original Lundin drilling, because they stopped when they found the 1st one, for some unknown reason.

Merlin's thesis is that 3 or more parallel vertical sheets of mineralisation extend from 200m to the surface and also to depth of 900m plus. This would then probably significantly increase the Reserves from the 8.7m tonnes combined ZN/Pb on the Lundin Statement to 10m tons + for just Toral alone. Lago has not been properly drilled before, but is an easier site to access and work as it is an open cast pit model, and the surface sampling suggested a reserve of around 2-3m tons.

All of the above, would produce 2 mines worthy of commercial exploitation, given the readily available local infrastructure and the nearby Zinc Smelter at Asturias, on the North Coast of Spain.

Lets see what Merlin and the team come up with - but I know that he is highly confident of his thesis.

Its Indaba Mining Conference in Cape Town 6-9th Feb, by the way, so that could produce some interesting meetings for FCR & perhaps some Institutional interest, which we need. I hope to be going.

IMHO, DYOR, GLA.

[blackss] 18/1/2017 11:39

So here we are JT seems to have managed to brush nearly all he said in the last 3 months under the carpet and now we wait indefinitely for news on Moonlight with our fingers crossed. Sorry but i simply don't buy in to this legally not allowed to say anything, buy anything or in confidentiality agreements. this is the AIM and in my experience where there is a will there is a way particularly when it comes to buying stock in your own placing !!
I desperately want to believe JT but he gives us absolutely nothing to cling on to in fact he seems to be going out of his way to keep people in the dark and mislead.

[patviera] 17/1/2017 20:12

CheersI bought some at 0.205 today but was offered stock all day so will wait for 0.185 now and if I miss it I got enuf

[blackss] 17/1/2017 18:42

I think in this context 1% is a figure of speech to demonstrate a very small amount. It could be 5% 0r .5% but 1% is often used to describe a minimum
As for production, how long is a piece of string. what Andrea did observe is that the zinc deposits could be quite near the surface so in relation to other similar sites ours could be much more cost effective. I'm sure he will elaborate but that's my take on what he said.

[patviera] 17/1/2017 17:17

AndreaWhy do you mention 1pct ,that seems incredibly pessimistic? How much money will be needed in total to get to production ?What is beauforts price target?Is this your biggest holding and can I ask where your average price is?

[patviera] 16/1/2017 15:35

Fair enough but let's hope it's a missed timeline like the Spanish one!!I bought more at 19

[andrea152] 16/1/2017 15:34

Actually pat, I said that the total value of Toral/Lago metal in the ground, is around 800p per share,(10m tons x $2500/ton) if they prove up 10m tons of Zinc/Lead, which seems likely given the previous Lundin Jorc of 8.7m tons for Toral and a reasonable guess of £2-3m tons for Lago, when drilled. I didn't say the market would recognise that, and it won't. It is however a guide to the total value of the asset in Spain.

I do think that 1% of the above number (i.e. 8p /share) would be a reasonable price target for Spain , however, given the potentially shallow nature of the deposit and hence the low cost extraction model which can hopefully be put in place and which Merlin & his team are working hard on now.

Clearly, the ideal valuation method would be an NPV, or DCF analysis, but we need more numbers from Merlin & the crew before that will be possible. I was not particularly impressed with the valuation method used in the most recent Beaufort Securities Broker Note, nor their conclusion or price targets, but I guess they hav to be conservative, for the Regulators & their own Professional code !

I really don't know how Moonlight is going to pan out, but some solution that threw off at least some cash flow to FCR, in order to fund Spanish development, would clearly be a desirable result.

Interesting times.

IMHO, DYOR, GLA.

[blackss] 16/1/2017 14:55

Thanks for that andrea, interesting to see you have actually been to the Spanish site. It is very dificult to judge the situation as we stand because, lets face it, we dont know the situation, we just have to hope that there is a plan in place, maybe the next week or two will set our minds at rest.

pat
I think you are right when you say "Also who cares if he misses a timeline by a few days or weeks" but i would add some of these time lines like starting the BFS are now 15 months late...I also think you have to take into account how missed time lines when set by the very person who misses them start to cause credibility issues with future time lines and so on. Its actually more than a missed date it reflects on all sorts of issues if management are seen to be hit and miss on some things.
I'm not really putting this across very well but in short, far better not to self impose timelines in the first place than miss them ..

[patviera] 16/1/2017 13:50

Bloody typos!!Lots of negatives here agreedThen again we are 0.19p!! Lol